Crew Capital Management Ltd grew its stake in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 106.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,601 shares of the company’s stock after acquiring an additional 14,249 shares during the period. Crew Capital Management Ltd’s holdings in Monster Beverage were worth $1,149,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of MNST. BlackRock Inc. bought a new stake in shares of Monster Beverage in the 2nd quarter worth approximately $5,770,004,000. Ninety One UK Ltd grew its holdings 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 purchasing an additional 6,175,047 shares during the period. Bank of America Corp DE grew its holdings in Monster Beverage by 0.8% during the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock valued at $908,102,000 after purchasing an additional 99,168 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Monster Beverage by 23.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock worth $553,414,000 after buying an additional 1,461,167 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Monster Beverage by 27.8% in the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock valued at $717,629,000 after buying an additional 1,624,416 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.
Monster Beverage Stock Up 1.5%
Shares of MNST opened at $46.35 on Friday. The business’s 50-day moving average price is $44.76 and its 200-day moving average price is $43.05. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17. The stock has a market cap of $90.80 billion, a PE ratio of 42.92, a P/E/G ratio of 2.88 and a beta of 0.49.
Monster Beverage (NASDAQ:MNST – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.60 EPS for the quarter, beating 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 company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $0.26 earnings per share. Monster Beverage’s revenue for the quarter was up 20.2% on a year-over-year basis. Analysts expect that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on MNST shares. UBS Group increased their price target on Monster Beverage from $52.00 to $52.50 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Citigroup restated a “buy” rating on shares of Monster Beverage in a research note on Thursday, October 22nd. TD Cowen upped their price objective on shares of Monster Beverage from $45.00 to $47.50 and gave the company a “hold” rating in a report on Wednesday, July 8th. Morgan Stanley upped their price objective on shares of Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Monster Beverage from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.86.
View Our Latest Research Report on MNST
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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