XTX Topco Ltd Trims Holdings in Monster Beverage Corporation $MNST

XTX Topco Ltd decreased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 92.9% in the second quarter, HoldingsChannel reports. The firm owned 3,887 shares of the company’s stock after selling 50,583 shares during the quarter. XTX Topco Ltd’s holdings in Monster Beverage were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its holdings in shares of Monster Beverage by 85.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,008 shares of the company’s stock valued at $485,000 after acquiring an additional 3,689 shares during the last quarter. Savvy Advisors Inc. acquired a new position in Monster Beverage during the first quarter valued at $225,000. Invesco Ltd. boosted its holdings in Monster Beverage by 6.6% in the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock valued at $535,712,000 after purchasing an additional 563,353 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Monster Beverage during the 1st quarter worth about $389,000. Finally, Nuveen LLC purchased a new position in shares of Monster Beverage during the 1st quarter valued at about $497,157,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Argus upgraded Monster Beverage to a “strong-buy” rating in a research note on Tuesday, November 25th. Royal Bank Of Canada reissued an “outperform” rating and issued a $81.00 price target (up from $75.00) on shares of Monster Beverage in a report on Monday, December 1st. Piper Sandler set a $85.00 price objective on Monster Beverage in a research report on Wednesday, December 3rd. Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Bank of America boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and a consensus target price of $71.45.

Insiders Place Their Bets

In related news, insider Guy Carling sold 38,438 shares of Monster Beverage stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $73.94 on Tuesday. The business’s 50 day moving average price is $70.32 and its 200-day moving average price is $65.31. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $76.28. The firm has a market capitalization of $72.24 billion, a price-to-earnings ratio of 42.01, a price-to-earnings-growth ratio of 2.22 and a beta of 0.48.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a net margin of 21.65% and a return on equity of 27.76%. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.