WINTON GROUP Ltd Buys New Shares in Monster Beverage Corporation $MNST

WINTON GROUP Ltd purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST) in the second quarter, HoldingsChannel reports. The fund purchased 56,428 shares of the company’s stock, valued at approximately $3,535,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Access Investment Management LLC bought a new position in Monster Beverage during the second quarter valued at about $25,000. Salomon & Ludwin LLC bought a new stake in shares of Monster Beverage in the 2nd quarter worth approximately $28,000. Golden State Wealth Management LLC grew its holdings in shares of Monster Beverage by 647.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock worth $35,000 after purchasing an additional 479 shares in the last quarter. Webster Bank N. A. bought a new stake in shares of Monster Beverage during the second quarter valued at approximately $38,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Monster Beverage during the second quarter valued at approximately $45,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were 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 owned 21,993 shares in the company, valued at approximately $1,568,760.69. This trade represents a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Monster Beverage Stock Performance

Shares of MNST opened at $73.94 on Tuesday. The company has a market cap of $72.24 billion, a price-to-earnings ratio of 42.01, a PEG ratio of 2.22 and a beta of 0.48. The stock has a fifty day moving average price of $70.32 and a two-hundred day moving average price of $65.31. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $76.28.

Monster Beverage (NASDAQ:MNST) last announced its earnings results 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 return on equity of 27.76% and a net margin of 21.65%.The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, research analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler set a $85.00 target price on Monster Beverage in a research report on Wednesday, December 3rd. Stifel Nicolaus increased their price objective on shares of Monster Beverage from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of Monster Beverage from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Bank of America upped their target price on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, The Goldman Sachs Group increased their price target on shares of Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.45.

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.