LGT Group Foundation Increases Stock Position in Monster Beverage Co. (NASDAQ:MNST)

LGT Group Foundation boosted its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 26.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 317,995 shares of the company's stock after buying an additional 65,634 shares during the period. LGT Group Foundation's holdings in Monster Beverage were worth $15,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MNST. International Assets Investment Management LLC lifted its holdings in Monster Beverage by 1,220.2% in the fourth quarter. International Assets Investment Management LLC now owns 36,755 shares of the company's stock worth $2,117,000 after buying an additional 33,971 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Monster Beverage by 10.0% during the fourth quarter. Private Advisor Group LLC now owns 31,999 shares of the company's stock valued at $1,843,000 after purchasing an additional 2,912 shares during the last quarter. Lincoln National Corp purchased a new position in shares of Monster Beverage during the fourth quarter valued at approximately $358,000. Wealthspire Advisors LLC purchased a new position in shares of Monster Beverage during the fourth quarter valued at approximately $328,000. Finally, Principal Securities Inc. purchased a new position in shares of Monster Beverage during the fourth quarter valued at approximately $706,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MNST. Piper Sandler lowered their target price on shares of Monster Beverage from $59.00 to $46.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Morgan Stanley lowered their target price on shares of Monster Beverage from $65.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, June 14th. Citigroup lowered their target price on shares of Monster Beverage from $60.00 to $54.00 and set a "buy" rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Finally, Roth Mkm decreased their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy 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 $55.85.

Monster Beverage Stock Performance

Shares of MNST stock traded up $2.09 during mid-day trading on Monday, reaching $50.74. 9,188,006 shares of the company's stock traded hands, compared to its average volume of 7,240,748. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The firm has a 50 day moving average price of $48.92 and a two-hundred day moving average price of $52.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The firm has a market capitalization of $49.70 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 2.25 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm earned $0.39 EPS. The company's revenue was up 2.4% on a year-over-year basis. On average, research analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current year.

Insider Activity

In other news, Director Mark Vidergauz sold 15,077 shares of the business's stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the sale, the director now owns 68,167 shares of the company's stock, valued at approximately $3,534,458.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Mark Vidergauz sold 15,077 shares of the company's stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares of the company's stock, valued at approximately $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the company's stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares of the company's stock, valued at approximately $99,404,574. The disclosure for this sale can be found here. Insiders own 7.80% of the company's stock.

Monster Beverage Company Profile

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: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.