AllianceBernstein LP has recently announced that it has increased stake in Monster Beverage Corp. (NASDAQ:MNST) by 9.75%. After grabbing 40.8 million shares, the institutional investor is now in possession of 3.62 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 3.92% having worth around $2.25 billion. Moreover, JPMorgan Investment Management, I increased its share by 4.42 million to have a control over 27.68 million shares. And Capital Research & Management Co raised its holdings to 1.37 million shares by acquiring 22.96 million shares or 2.21% of the stake.
Monster Beverage Corp. (MNST) concluded trading on 12/27/23 at a closing price of $57.34, with 3.49 million shares of worth about $200.33 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.33% during that period and on Wednesday the price saw a gain of about 0.97%. Currently the company’s common shares owned by public are about 1.04B shares, out of which, 747.83M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 25 analysts are covering the MNST stock and their offered price forecasts bring an average price target of $61.61. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $66.00 and could fall to a lowest price of $55.00. The stock’s current price level is 6.93% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.25% for the stock. However, touching the estimated high of $66.00 would mean a gain of 13.12% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 54 times over the past 12 months. They bought 359,861 shares in 28 of the transactions. In 26 selling transactions, insiders dumped 610,650 shares.
Vanguard Total Stock Market ETF, Invesco QQQ Trust, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Monster Beverage Corp. Vanguard Total Stock Market ETF is currently holding 22.99 million shares of worth totaling $1.27 billion. The company recently came buying 28652.0 shares which brought its stake up to 2.21% of the company’s outstanding shares. Invesco QQQ Trust sold 61788.0 shares, after which its hold over company’s outstanding shares shrunk to 1.75%, leaving 18.22 million shares with the mutual fund that have a worth of about $1.01 billion. Vanguard 500 Index Fund, after buying 17.97 million shares, have now control over 1.73% of the stake in the company. It holds 93044.0 shares of worth $990.85 million.
Monster Beverage Corp. (NASDAQ: MNST) started trading at $56.84, above $0.05 from concluding price of the previous day. Stock saw a price change of 3.17% in past 5 days and over the past one month there was a price change of 4.79%. Year-to-date (YTD), MNST shares are showing a performance of 12.95% which increased to 13.25% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $47.13 but also hit the highest price of $60.47 during that period. The average intraday trading volume for Monster Beverage Corp. shares is 5.92 million. The stock is currently trading 3.88% above its 20-day simple moving average (SMA20), while that difference is up 6.42% for SMA50 and it goes to 3.53% higher than SMA200.
AllianceBernstein LP acquired 40.8 million shares of Monster Beverage Corp. having value of about $2.25 billion. Data submitted at the U.S SEC by AllianceBernstein LP revealed that the firm now holds 3.62 million shares in the company valued at close to $207827224.48, or have control over 9.75% stake in the company. Monster Beverage Corp. (NASDAQ: MNST) currently have 1.04B outstanding shares and institutions hold larger chunk of about 66.09% of that. Holding of mutual funds in the company is about 41.51% while other institutional holders and individual stake holders have control over 9.25% and 25.01% of the stake respectively.
The stock has a current market capitalization of $59.66B and its 3Y-monthly beta is at 0.76. PE ratio of stock for trailing 12 months is 38.80, while it has posted earnings per share of $1.48 in the same period. Its PEG reads 1.71 and has Quick Ratio of 3.76 while making debt-to-equity ratio of 0.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MNST, volatility over the week remained 1.62% while standing at 1.60% over the month.
Analysts are in expectations that Monster Beverage Corp. (MNST) stock would likely to be making an EPS of $Milestone Pharmaceuticals Inc. in the current quarter, while forecast for next quarter EPS is $1.88 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Monster Beverage Corporation which is $Momentus Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $The Honest Company, Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 40.62% while it is estimated to increase by 16.13% in next year. EPS is likely to grow at an annualized rate of 22.64% for next 5-years, compared to annual growth of 9.49% made by the stock over the past 5-years.
Analysts at 25 brokerage firms have issued recommendations for the Monster Beverage Corp. (MNST)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.84. Out of those 25 Wall Street analysts, 14 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH MKM on November 20, 2023 offering a Neutral rating for the stock and assigned a target price range of between $57 and $55 to it.
