Vestor Capital LLC Purchases New Shares in Monster Beverage Co. (NASDAQ:MNST)

Vestor Capital LLC acquired a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 12,917 shares of the company’s stock, valued at approximately $139,000.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank raised its stake in Monster Beverage by 131.8% in the first quarter. Toronto Dominion Bank now owns 508,074 shares of the company’s stock worth $27,426,000 after buying an additional 288,919 shares in the last quarter. Portside Wealth Group LLC bought a new position in shares of Monster Beverage in the 2nd quarter worth approximately $6,379,000. Wealthfront Advisers LLC lifted its stake in shares of Monster Beverage by 413.3% in the 1st quarter. Wealthfront Advisers LLC now owns 135,316 shares of the company’s stock valued at $7,308,000 after purchasing an additional 108,955 shares during the period. Pacer Advisors Inc. boosted its position in shares of Monster Beverage by 584.9% during the first quarter. Pacer Advisors Inc. now owns 115,099 shares of the company’s stock valued at $6,216,000 after purchasing an additional 98,294 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Monster Beverage by 97.5% in the first quarter. Victory Capital Management Inc. now owns 668,556 shares of the company’s stock worth $36,109,000 after purchasing an additional 330,101 shares during the period. 64.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Piper Sandler cut shares of Monster Beverage from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $63.00 to $50.00 in a report on Tuesday, October 24th. HSBC assumed coverage on shares of Monster Beverage in a report on Monday, August 14th. They issued a “buy” rating and a $72.00 price objective on the stock. Roth Mkm lifted their target price on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, August 10th. Morgan Stanley restated an “overweight” rating and issued a $63.00 price target on shares of Monster Beverage in a research note on Friday, August 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 price objective on shares of Monster Beverage in a research note on Monday, August 7th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus price target of $60.50.

Monster Beverage Stock Up 0.3 %

Shares of MNST stock opened at $55.68 on Wednesday. The company has a 50 day moving average price of $52.96 and a 200-day moving average price of $56.16. Monster Beverage Co. has a 52 week low of $47.13 and a 52 week high of $60.47. The firm has a market capitalization of $57.93 billion, a PE ratio of 37.49, a P/E/G ratio of 1.62 and a beta of 0.83.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Monster Beverage had a net margin of 22.62% and a return on equity of 20.50%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. Analysts anticipate that Monster Beverage Co. will post 1.55 earnings per share for the current year.

Monster Beverage declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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: 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.