Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 31.21MM shares of Monster Beverage Corp (MNST). This represents 5.98% of the company.
In their previous filing dated February 10, 2022 they reported 29.50MM shares and 5.58% of the company, an increase in shares of 5.79% and an increase in total ownership of 0.40% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 8.28% Upside
As of February 9, 2023, the average one-year price target for Monster Beverage is $110.54. The forecasts range from a low of $88.88 to a high of $131.25. The average price target represents an increase of 8.28% from its latest reported closing price of $102.09.
The projected annual revenue for Monster Beverage is $7,256MM, an increase of 16.60%. The projected annual EPS is $3.06, an increase of 33.73%.
What is the Fund Sentiment?
There are 1592 funds or institutions reporting positions in Monster Beverage. This is an increase of 32 owner(s) or 2.05% in the last quarter. Average portfolio weight of all funds dedicated to MNST is 0.36%, an increase of 0.29%. Total shares owned by institutions increased in the last three months by 1.15% to 424,456K shares. The put/call ratio of MNST is 1.10, indicating a bearish outlook.
What are large shareholders doing?
Alliancebernstein holds 20,190K shares representing 3.87% ownership of the company. In it's prior filing, the firm reported owning 17,136K shares, representing an increase of 15.13%. The firm increased its portfolio allocation in MNST by 17.16% over the last quarter.
Loomis Sayles & Co L P holds 16,537K shares representing 3.17% ownership of the company. In it's prior filing, the firm reported owning 17,097K shares, representing a decrease of 3.39%. The firm decreased its portfolio allocation in MNST by 0.95% over the last quarter.
Capital World Investors holds 13,116K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 12,995K shares, representing an increase of 0.92%. The firm increased its portfolio allocation in MNST by 0.06% over the last quarter.
Price T Rowe Associates holds 12,050K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 10,100K shares, representing an increase of 16.18%. The firm increased its portfolio allocation in MNST by 45.11% over the last quarter.
Nuveen Asset Management holds 11,351K shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 10,598K shares, representing an increase of 6.63%. The firm increased its portfolio allocation in MNST by 5.23% over the last quarter.
Monster Beverage Background Information
(This description is provided by the company.)
Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Company’s subsidiaries develop and market energy drinks, including Monster Energy® energy drinks, Monster Energy Ultra® energy drinks, Monster MAXX® maximum strength energy drinks, Java Monster® non-carbonated coffee + energy drinks, Espresso Monster® non-carbonated espresso + energy drinks, Monster Rehab® non-carbonated tea + energy drinks, Muscle Monster® non-carbonated energy shakes, Monster Hydro® non-carbonated refreshment + energy drinks, Monster HydroSport Super Fuel® non-carbonated advanced hydration + energy drinks, Monster Dragon Tea® non-carbonated energy teas, Reign Total Body Fuel® high performance energy drinks, Reign Inferno® thermogenic fuel high performance energy drinks, NOS® energy drinks, Full Throttle® energy drinks, Burn® energy drinks, Samurai® energy drinks, Relentless® energy drinks, Mother® energy drinks, Play® and Power Play® (stylized) energy drinks, BU® energy drinks, Nalu® energy drinks, BPM® energy drinks, Gladiator® energy drinks, Ultra Energy® energy drinks, Live+® energy drinks, Predator® energy drinks and Fury® energy drinks.
This story originally appeared on Fintel.
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