Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Toroso Investments LLC

Posted by Defense World Staff on Sep 16th, 2023

Toroso Investments LLC raised its position in Monster Beverage Co. (NASDAQ:MNST – Free Report) by 55.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,212 shares of the company’s stock after acquiring an additional 12,248 shares during the quarter. Toroso Investments LLC’s holdings in Monster Beverage were worth $1,848,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Monster Beverage by 101.7% during the first quarter. BlackRock Inc. now owns 53,161,049 shares of the company’s stock worth $2,871,228,000 after buying an additional 26,810,116 shares in the last quarter. FMR LLC boosted its holdings in Monster Beverage by 65.7% in the first quarter. FMR LLC now owns 40,938,968 shares of the company’s stock worth $2,211,114,000 after purchasing an additional 16,239,404 shares during the period. State Street Corp boosted its holdings in Monster Beverage by 98.4% in the first quarter. State Street Corp now owns 34,001,871 shares of the company’s stock worth $1,836,434,000 after purchasing an additional 16,863,544 shares during the period. Vanguard Group Inc. lifted its stake in Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 30,005,150 shares of the company’s stock valued at $2,397,411,000 after buying an additional 504,239 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Monster Beverage by 109.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,274,078 shares of the company’s stock valued at $1,149,014,000 after buying an additional 11,129,876 shares during the last quarter. Institutional investors and hedge funds own 64.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Evercore ISI reiterated an “outperform” rating and issued a $65.00 target price on shares of Monster Beverage in a research note on Thursday, August 10th. MKM Partners lifted their price objective on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, August 10th. HSBC began coverage on shares of Monster Beverage in a research note on Monday, August 14th. They set a “buy” rating and a $72.00 price objective on the stock. Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $63.00 in a research note on Monday, August 7th. Finally, StockNews.com began coverage on shares of Monster Beverage in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus target price of $61.71.

Check Out Our Latest Stock Report on Monster Beverage

Monster Beverage Trading Down 1.3 %

Shares of MNST opened at $56.14 on Friday. The business’s 50-day moving average price is $57.29 and its 200 day moving average price is $56.43. The stock has a market capitalization of $58.81 billion, a P/E ratio of 41.43, a P/E/G ratio of 1.60 and a beta of 0.83. Monster Beverage Co. has a 1-year low of $42.81 and a 1-year high of $60.47.

Monster Beverage (NASDAQ:MNST – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Monster Beverage had a return on equity of 19.75% and a net margin of 21.45%. Monster Beverage’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, research analysts predict that Monster Beverage Co. will post 1.54 earnings per share for the current year.

Insider Buying and Selling

In other Monster Beverage news, Director Mark J. Hall sold 110,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $57.35, for a total transaction of $6,308,500.00. Following the transaction, the director now owns 1,141,262 shares of the company’s stock, valued at approximately $65,451,375.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Monster Beverage news, Director Mark J. Hall sold 110,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $57.35, for a total transaction of $6,308,500.00. Following the transaction, the director now owns 1,141,262 shares of the company’s stock, valued at approximately $65,451,375.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark J. Hall sold 56,202 shares of Monster Beverage stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $58.81, for a total value of $3,305,239.62. Following the transaction, the director now directly owns 1,027,840 shares in the company, valued at approximately $60,447,270.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 166,318 shares of company stock valued at $9,620,379. 9.40% of the stock is owned by corporate insiders.

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.