World Investment Advisors Invests $328,000 in Monster Beverage Corporation $MNST

World Investment Advisors bought a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,237 shares of the company’s stock, valued at approximately $328,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Monster Beverage by 1.8% during the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after purchasing an additional 1,151,175 shares in the last quarter. Invesco Ltd. increased its position in Monster Beverage by 6.6% during the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock valued at $535,712,000 after buying an additional 563,353 shares in the last quarter. Ninety One UK Ltd increased its position in Monster Beverage by 4.9% during the 2nd quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock valued at $560,282,000 after buying an additional 418,918 shares in the last quarter. Nuveen LLC purchased a new stake in Monster Beverage in the first quarter valued at about $497,157,000. Finally, Northern Trust Corp boosted its holdings in Monster Beverage by 1.0% in the first quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock worth $434,901,000 after acquiring an additional 73,737 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MNST. Morgan Stanley upped their price objective on shares of Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Bank of America upped their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Rothschild & Co Redburn cut shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a report on Wednesday, July 9th. Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Finally, Roth Capital reissued a “neutral” rating and issued a $60.00 target price (up from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $67.10.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the sale, the director owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is currently owned by company insiders.

Monster Beverage Trading Down 0.5%

Shares of NASDAQ MNST opened at $66.51 on Tuesday. The company has a 50 day simple moving average of $66.14 and a two-hundred day simple moving average of $63.25. The stock has a market cap of $64.94 billion, a price-to-earnings ratio of 41.31, a PEG ratio of 2.31 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $70.72.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage Profile

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, Alcohol Brands, and Other.