AllianceBernstein LP recently announced the acquisition of new stake in Monster Beverage Corp. (NASDAQ:MNST). The institutional investor has increased its shareholding in the Consumer Defensive company by 9.75% to 40.8 million shares with purchase of 3.62 million shares. This fresh investment now brings its stake to 3.92% valued currently at $2.35 billion. In addition, JPMorgan Investment Management, I raised its holdings by 4.42 million to 27.68 million shares. And Capital Research & Management Co has lifted its position by 6.37% or 1.37 million shares – to 22.96 million shares.
Currently, there are 1.04B common shares owned by the public and among those 752.54M shares have been available to trade.
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Insiders at the company have transacted a total of 54 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 359,861 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 610,650 shares.
The top 3 mutual fund holders in Monster Beverage Corp. are Vanguard Total Stock Market ETF, Invesco QQQ Trust, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 22.92 million shares of the company’s stock, all valued at over $1.32 billion. The company sold 70754.0 shares recently to bring their total holdings to about 2.20% of the shares outstanding. Invesco QQQ Trust sold 49126.0 shares to see its total holdings shrink to 19.13 million shares valued at over $1.1 billion and representing 1.84% of the shares outstanding. Vanguard 500 Index Fund sold 90674.0 shares to bring its total holdings to over 18.04 million shares at a value of $1.04 billion. Vanguard 500 Index Fund now owns shares totaling to 1.73% of the shares outstanding.
The company’s stock has a 5-day price change of -1.30% and 11.05% over the past three months. MNST shares are trading -3.51% year to date (YTD), with the 12-month market performance up to 7.00% higher. It has a 12-month low price of $47.13 and touched a high of $60.47 over the same period. MNST has an average intraday trading volume of 5.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.06%, -0.87%, and -0.63% respectively.
Institutional ownership of Monster Beverage Corp. (NASDAQ: MNST) shares accounts for 65.99% of the company’s 1.04B shares outstanding. Mutual fund holders own 40.96%, while other institutional holders and individual stakeholders account for 8.70% and 25.45% respectively.
It has a market capitalization of $57.84B and a beta (3y monthly) value of 0.72. The stock’s trailing 12-month PE ratio is 37.62, while the earnings-per-share (ttm) stands at $1.48. The company has a PEG of 1.65 and a Quick Ratio of 3.76 with the debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.42% over the week and 1.63% over the month.
Analysts forecast that Monster Beverage Corp. (MNST) will achieve an EPS of $0.38 for the current quarter, $0.43 for the next quarter and $1.82 for 2024. The lowest estimate earnings-per-share for the quarter is $0.36 while analysts give the company a high EPS estimate of $0.44. Comparatively, EPS for the current quarter was $0.28 a year ago. Earnings per share for the fiscal year are expected to increase by 40.56%, and 16.17% over the next financial year. EPS should grow at an annualized rate of 22.81% over the next five years, compared to 9.49% over the past 5-year period.
Looking at the support for the MNST, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on January 17, 2024, with the firm’s price target at $61-$65.
