Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its stake in Monster Beverage Co. (NASDAQ:MNSTFree Report) by 17.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 436,754 shares of the company’s stock after acquiring an additional 64,761 shares during the period. Royal London Asset Management Ltd.’s holdings in Monster Beverage were worth $23,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Riggs Asset Managment Co. Inc. bought a new stake in shares of Monster Beverage in the 3rd quarter worth about $2,274,000. Schroder Investment Management Group grew its position in shares of Monster Beverage by 33.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,339,062 shares of the company’s stock valued at $70,903,000 after buying an additional 334,578 shares during the last quarter. Sei Investments Co. grew its position in shares of Monster Beverage by 10.8% during the 3rd quarter. Sei Investments Co. now owns 381,499 shares of the company’s stock valued at $20,200,000 after buying an additional 37,274 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Monster Beverage during the 3rd quarter valued at about $5,123,000. Finally, Lake Street Advisors Group LLC grew its position in shares of Monster Beverage by 2.9% during the 3rd quarter. Lake Street Advisors Group LLC now owns 10,819 shares of the company’s stock valued at $573,000 after buying an additional 306 shares during the last quarter. Institutional investors own 64.60% of the company’s stock.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Piper Sandler boosted their price objective on shares of Monster Beverage from $50.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, November 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Monster Beverage from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, February 26th. HSBC reduced their target price on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their target price on shares of Monster Beverage from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.43.

Read Our Latest Research Report on Monster Beverage

Insider Activity at Monster Beverage

In other Monster Beverage news, insider Guy Carling sold 34,553 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $55.55, for a total value of $1,919,419.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Guy Carling sold 34,553 shares of Monster Beverage stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $55.55, for a total transaction of $1,919,419.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark J. Hall sold 659,000 shares of Monster Beverage stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the sale, the director now owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by insiders.

Monster Beverage Price Performance

NASDAQ MNST opened at $59.38 on Friday. The company’s fifty day moving average is $56.76 and its two-hundred day moving average is $55.17. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $60.47. The firm has a market capitalization of $61.79 billion, a price-to-earnings ratio of 38.31, a P/E/G ratio of 2.25 and a beta of 0.72.

Monster Beverage (NASDAQ:MNSTGet Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the business earned $0.28 EPS. The firm’s revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts expect that Monster Beverage Co. will post 1.81 earnings per share for the current fiscal year.

Monster Beverage Profile

(Free Report)

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: Finished Product, Concentrate, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas and juice drinks, 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.

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

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