Vise Technologies Inc. Takes $666,000 Position in Monster Beverage Corporation $MNST

Vise Technologies Inc. bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,632 shares of the company’s stock, valued at approximately $666,000.

Several other institutional investors have also recently added to or reduced their stakes in MNST. Vanguard Group Inc. lifted its position in Monster Beverage by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after acquiring an additional 1,151,175 shares during the period. Invesco Ltd. raised its stake in shares of Monster Beverage by 6.6% during the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after purchasing an additional 563,353 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of Monster Beverage by 4.9% during the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock worth $560,282,000 after purchasing an additional 418,918 shares during the period. Nuveen LLC purchased a new position in Monster Beverage in the 1st quarter valued at $497,157,000. Finally, Northern Trust Corp increased its stake in Monster Beverage by 1.0% in the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock valued at $434,901,000 after buying an additional 73,737 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Monster Beverage stock opened at $71.31 on Friday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $72.62. The firm has a market capitalization of $69.67 billion, a price-to-earnings ratio of 44.29, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53. The stock’s fifty day moving average is $67.39 and its two-hundred day moving average is $63.86.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on MNST shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Piper Sandler raised their price objective on shares of Monster Beverage from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of Monster Beverage in a research note on Thursday, November 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Monster Beverage in a research note on Wednesday, October 8th. Finally, UBS Group increased their price objective on Monster Beverage from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.62.

About Monster Beverage

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.