Allspring Global Investments Holdings LLC Acquires 9,868 Shares of Monster Beverage Co. (NASDAQ:MNST)

Allspring Global Investments Holdings LLC increased its holdings in Monster Beverage Co. (NASDAQ:MNSTGet Rating) by 14.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,190 shares of the company’s stock after purchasing an additional 9,868 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Monster Beverage were worth $6,624,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ancora Advisors LLC bought a new stake in Monster Beverage in the first quarter worth $27,000. Janiczek Wealth Management LLC boosted its holdings in Monster Beverage by 311.4% during the second quarter. Janiczek Wealth Management LLC now owns 288 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares during the period. Venture Visionary Partners LLC bought a new stake in Monster Beverage during the second quarter valued at about $39,000. CVA Family Office LLC boosted its holdings in Monster Beverage by 116.6% during the second quarter. CVA Family Office LLC now owns 548 shares of the company’s stock valued at $51,000 after acquiring an additional 295 shares during the period. Finally, James Investment Research Inc. bought a new stake in Monster Beverage during the second quarter valued at about $54,000. 75.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Monster Beverage from $105.00 to $113.00 in a report on Friday, December 16th. UBS Group upped their price target on shares of Monster Beverage from $99.00 to $102.00 and gave the company a “neutral” rating in a report on Friday, November 4th. Morgan Stanley upped their price target on shares of Monster Beverage from $109.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, November 4th. StockNews.com began coverage on shares of Monster Beverage in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Royal Bank of Canada increased their target price on shares of Monster Beverage from $98.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, November 4th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.06.

Insider Activity

In other Monster Beverage news, insider Guy Carling sold 36,250 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $97.66, for a total value of $3,540,175.00. Following the transaction, the insider now directly owns 25,901 shares of the company’s stock, valued at $2,529,491.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Guy Carling sold 36,250 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $97.66, for a total transaction of $3,540,175.00. Following the sale, the insider now directly owns 25,901 shares in the company, valued at $2,529,491.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Emelie Tirre sold 74,998 shares of Monster Beverage stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $98.96, for a total transaction of $7,421,802.08. Following the completion of the sale, the insider now owns 21,038 shares in the company, valued at $2,081,920.48. The disclosure for this sale can be found here. Insiders have sold 123,504 shares of company stock valued at $12,217,237 over the last three months. 10.50% of the stock is owned by insiders.

Monster Beverage Stock Up 2.0 %

NASDAQ:MNST opened at $102.08 on Monday. Monster Beverage Co. has a 12-month low of $71.78 and a 12-month high of $104.65. The firm has a market capitalization of $53.26 billion, a PE ratio of 45.17, a price-to-earnings-growth ratio of 2.99 and a beta of 0.90. The firm has a 50-day moving average price of $100.95 and a 200 day moving average price of $95.03.

Monster Beverage (NASDAQ:MNSTGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.65 billion. Monster Beverage had a net margin of 19.46% and a return on equity of 17.91%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share. On average, research analysts expect that Monster Beverage Co. will post 2.28 EPS for the current year.

Monster Beverage declared that its board has initiated a share buyback program on Thursday, November 3rd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Monster Beverage Company Profile

(Get Rating)

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

Further Reading

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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