TD Waterhouse Canada Inc. increased its position in Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 37.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,680 shares of the company’s stock after purchasing an additional 17,486 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Monster Beverage were worth $2,728,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in MNST. BlackRock Inc. purchased a new stake in Monster Beverage in the second quarter worth $5,770,004,000. Bank of America Corp DE bought a new position in Monster Beverage in the second quarter worth $1,195,360,000. Ninety One UK Ltd lifted its position in Monster Beverage by 89.1% during the third quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock valued at $545,444,000 after buying an additional 6,175,047 shares during the period. Jupiter Topco LLC purchased a new position in Monster Beverage during the second quarter valued at $593,075,000. Finally, Legal & General Group Plc purchased a new position in Monster Beverage during the second quarter valued at $478,694,000. 72.36% of the stock is currently owned by institutional investors.
Monster Beverage Stock Up 0.5%
Monster Beverage stock opened at $47.04 on Wednesday. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17. The company has a market capitalization of $92.15 billion, a P/E ratio of 43.56, a PEG ratio of 2.90 and a beta of 0.49. The stock’s 50 day moving average is $44.75 and its 200 day moving average is $44.31.
Monster Beverage (NASDAQ:MNST – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, equities analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current year.
Analysts Set New Price Targets
A number of analysts have recently commented on MNST shares. Royal Bank Of Canada restated an “outperform” rating and set a $48.50 target price (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. Piper Sandler reiterated an “overweight” rating and issued a $50.50 price target on shares of Monster Beverage in a research note on Monday. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $83.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings cut shares of Monster Beverage from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Finally, UBS Group lifted their price target on shares of Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.07.
Read Our Latest Research Report on MNST
Monster Beverage Company 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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