Capital World Investors Has $492.75 Million Holdings in Monster Beverage Corporation $MNST

Capital World Investors trimmed its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 33.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,320,573 shares of the company’s stock after selling 3,670,265 shares during the period. Capital World Investors’ holdings in Monster Beverage were worth $492,748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MNST. Vanguard Group Inc. increased its position in Monster Beverage by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after buying an additional 2,122,685 shares during the period. State Street Corp raised its holdings in shares of Monster Beverage by 2.6% during the 2nd quarter. State Street Corp now owns 34,929,818 shares of the company’s stock worth $2,188,004,000 after buying an additional 900,479 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in Monster Beverage by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 26,450,305 shares of the company’s stock valued at $1,656,847,000 after purchasing an additional 385,692 shares during the last quarter. Geode Capital Management LLC raised its position in 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 purchasing an additional 742,518 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Monster Beverage by 20.0% during the 2nd 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 during the period. 72.36% of the stock is owned by institutional investors.

Monster Beverage Price Performance

Shares of MNST opened at $76.70 on Wednesday. Monster Beverage Corporation has a one year low of $54.00 and a one year high of $87.38. The company has a market cap of $74.94 billion, a PE ratio of 39.54, a P/E/G ratio of 2.45 and a beta of 0.44. The stock has a 50-day moving average of $80.13 and a 200-day moving average of $73.20.

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

Insider Transactions at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 30,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.58, for a total transaction of $15,197,433.94. The SEC filing for this sale provides additional information. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Citigroup boosted their price objective on Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Zacks Research lowered Monster Beverage from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Piper Sandler raised their target price on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Jefferies Financial Group lifted their target price on Monster Beverage from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

Monster Beverage 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.