Vanguard Group Inc. Has $4.54 Billion Stock Position in Monster Beverage Corporation $MNST

Vanguard Group Inc. boosted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,483,584 shares of the company’s stock after acquiring an additional 2,122,685 shares during the period. Vanguard Group Inc. owned 6.91% of Monster Beverage worth $4,542,320,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Access Investment Management LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at $25,000. Physician Wealth Advisors Inc. boosted its position in Monster Beverage by 508.1% during the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after acquiring an additional 315 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in Monster Beverage during the third quarter valued at $27,000. Newbridge Financial Services Group Inc. grew its holdings in Monster Beverage by 1,338.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after acquiring an additional 415 shares during the period. Finally, First Horizon Corp bought a new position in shares of Monster Beverage in the 3rd quarter worth about $29,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

NASDAQ:MNST opened at $82.90 on Wednesday. Monster Beverage Corporation has a one year low of $48.95 and a one year high of $83.24. The company has a market cap of $81.00 billion, a PE ratio of 47.10, a PEG ratio of 2.12 and a beta of 0.45. The firm has a 50-day moving average of $78.51 and a 200-day moving average of $71.26.

Insider Buying and Selling

In related news, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.58, for a total value of $15,197,433.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Emelie Tirre sold 30,000 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.31, for a total value of $2,199,300.00. Following the transaction, the insider owned 63,939 shares in the company, valued at approximately $4,687,368.09. This trade represents a 31.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MNST. Bank of America upped their target price on Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Deutsche Bank Aktiengesellschaft increased their price target on Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Argus lifted their price objective on shares of Monster Beverage from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. increased their target price on shares of Monster Beverage from $75.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Finally, Piper Sandler set a $85.00 price target on shares of Monster Beverage in a report on Wednesday, December 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.90.

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.