Cresset Asset Management LLC Buys 19,171 Shares of Monster Beverage Corporation $MNST

Cresset Asset Management LLC boosted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 288.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,823 shares of the company’s stock after purchasing an additional 19,171 shares during the quarter. Cresset Asset Management LLC’s holdings in Monster Beverage were worth $1,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $544,584,000. Schroder Investment Management Group raised its stake in shares of Monster Beverage by 4,877.8% during the 2nd quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company’s stock worth $456,262,000 after acquiring an additional 7,137,552 shares in the last quarter. AQR Capital Management LLC lifted its position in Monster Beverage by 467.0% during the second quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock valued at $422,996,000 after acquiring an additional 5,641,160 shares during the last quarter. Vanguard Group Inc. lifted its position in Monster Beverage by 3.2% during the third quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock valued at $4,542,320,000 after acquiring an additional 2,122,685 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Monster Beverage by 1,126.9% in the second quarter. Marshall Wace LLP now owns 2,121,758 shares of the company’s stock valued at $132,907,000 after acquiring an additional 1,948,827 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

NASDAQ MNST opened at $75.61 on Monday. The company has a market cap of $73.87 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 2.45 and a beta of 0.44. The stock’s fifty day moving average price is $80.19 and its 200 day moving average price is $73.02. Monster Beverage Corporation has a 1 year low of $54.00 and a 1 year high of $87.38.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 EPS. Research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Transactions at Monster Beverage

In related news, insider Emelie Tirre sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.31, for a total value of $2,199,300.00. Following the sale, the insider owned 63,939 shares in the company, valued at $4,687,368.09. This represents a 31.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.58, for a total transaction of $15,197,433.94. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a report on Monday, December 29th. Argus raised their price objective on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Royal Bank Of Canada boosted their target price on Monster Beverage from $83.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. BNP Paribas Exane upgraded Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target for the company in a research note on Friday, January 16th. Finally, TD Cowen boosted their price target on Monster Beverage from $80.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.14.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.