Kenora Financial LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 99.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,720 shares of the company’s stock after purchasing an additional 66,028 shares during the period. Monster Beverage accounts for approximately 1.8% of Kenora Financial LLC’s holdings, making the stock its 13th largest holding. Kenora Financial LLC’s holdings in Monster Beverage were worth $5,524,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in Monster Beverage in the second quarter valued at about $5,770,004,000. Bank of America Corp DE acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $1,195,360,000. Wellington Management Group LLP grew its position in shares of Monster Beverage by 27.8% during the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock worth $717,629,000 after buying an additional 1,624,416 shares during the period. Jupiter Topco LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $593,075,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Monster Beverage by 23.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after acquiring an additional 1,461,167 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently weighed in on MNST. BNP Paribas Exane reissued a “neutral” rating and set a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research note on Monday, September 28th. Sanford C. Bernstein lowered their target price on shares of Monster Beverage from $95.00 to $50.00 in a research note on Sunday, August 23rd. The Goldman Sachs Group increased their target price on shares of Monster Beverage from $106.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Piper Sandler reissued an “overweight” rating and set a $50.50 price target on shares of Monster Beverage in a research report on Monday. Finally, Zacks Research raised shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.07.
Check Out Our Latest Stock Report on MNST
Monster Beverage Price Performance
NASDAQ:MNST opened at $46.80 on Tuesday. The business’s 50-day simple moving average is $44.72 and its 200-day simple moving average is $44.23. Monster Beverage Corporation has a fifty-two week low of $32.94 and a fifty-two week high of $50.17. The stock has a market capitalization of $91.68 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 2.84 and a beta of 0.49.
Monster Beverage (NASDAQ:MNST – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company posted $0.26 EPS. The business’s quarterly revenue was up 20.2% on a year-over-year basis. On average, research analysts expect that Monster Beverage Corporation will post 1.16 earnings per share for the current year.
Monster Beverage Profile
Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.
The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.
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