NEOS Investment Management LLC Purchases 151,099 Shares of Monster Beverage Corporation $MNST

NEOS Investment Management LLC lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 60.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 399,063 shares of the company’s stock after purchasing an additional 151,099 shares during the quarter. NEOS Investment Management LLC’s holdings in Monster Beverage were worth $26,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Monster Beverage by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after purchasing an additional 2,122,685 shares in the last quarter. State Street Corp increased its holdings in shares of Monster Beverage by 2.6% during the second quarter. State Street Corp now owns 34,929,818 shares of the company’s stock worth $2,188,004,000 after purchasing an additional 900,479 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Monster Beverage by 1.5% in the second quarter. Loomis Sayles & Co. L P now owns 26,450,305 shares of the company’s stock valued at $1,656,847,000 after buying an additional 385,692 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Monster Beverage by 4.1% in the second quarter. Geode Capital Management LLC now owns 18,680,424 shares of the company’s stock valued at $1,165,292,000 after buying an additional 742,518 shares during the period. Finally, Invesco Ltd. grew its position in Monster Beverage by 20.0% during the second quarter. Invesco Ltd. now owns 10,983,411 shares of the company’s stock worth $688,001,000 after buying an additional 1,829,064 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Buying and Selling

In other Monster Beverage news, insider Emelie Tirre sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 63,939 shares of the company’s stock, valued at $4,687,368.09. The trade was a 31.94% decrease in their position. The transaction 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 company’s stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Company insiders own 7.80% of the company’s stock.

Monster Beverage Stock Up 0.4%

Shares of NASDAQ MNST opened at $81.48 on Tuesday. The stock’s 50-day simple moving average is $78.32 and its two-hundred day simple moving average is $71.09. Monster Beverage Corporation has a twelve month low of $48.95 and a twelve month high of $83.24. The firm has a market capitalization of $79.61 billion, a P/E ratio of 46.30, a P/E/G ratio of 2.12 and a beta of 0.45.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Zacks Research downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. boosted their price target on shares of Monster Beverage from $75.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Monster Beverage in a research report on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 price objective on shares of Monster Beverage in a research report on Tuesday, November 4th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $73.00 target price (up from $53.00) on shares of Monster Beverage in a research note on Wednesday, December 3rd. Fourteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.90.

Monster Beverage Company Profile

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.