Norges Bank Acquires Shares of 8,693,867 Monster Beverage Corporation $MNST

Norges Bank bought a new position in Monster Beverage Corporation (NASDAQ:MNST) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,693,867 shares of the company’s stock, valued at approximately $544,584,000. Norges Bank owned 0.89% of Monster Beverage at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MNST. Access Investment Management LLC acquired a new position in Monster Beverage during the 2nd quarter worth approximately $25,000. Salomon & Ludwin LLC purchased a new stake in shares of Monster Beverage during the second quarter valued at approximately $28,000. Golden State Wealth Management LLC raised its stake in shares of Monster Beverage by 647.3% during the second quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock valued at $35,000 after purchasing an additional 479 shares during the period. Webster Bank N. A. acquired a new position in shares of Monster Beverage during the second quarter worth $38,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Monster Beverage in the first quarter valued at $43,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MNST. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Monster Beverage in a research note on Thursday, November 6th. Bank of America raised their target price on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 target price on shares of Monster Beverage in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Evercore ISI increased their price target on Monster Beverage from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus target price of $69.62.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $75.03 on Friday. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $75.27. The firm’s 50-day simple moving average is $69.21 and its 200-day simple moving average is $64.80. The firm has a market cap of $73.30 billion, a PE ratio of 46.60, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $0.41 earnings per share. Monster Beverage’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Buying and Selling at Monster Beverage

In other news, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the sale, the insider directly owned 21,993 shares in the company, valued at approximately $1,568,760.69. The trade was a 63.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.30% of the company’s stock.

Monster Beverage 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.