Profund Advisors LLC increased its position in Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 85.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141,889 shares of the company’s stock after purchasing an additional 65,182 shares during the quarter. Profund Advisors LLC’s holdings in Monster Beverage were worth $5,905,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Monster Beverage in the 2nd quarter worth about $5,770,004,000. Ninety One UK Ltd boosted its stake in Monster Beverage by 89.1% in the 3rd quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock worth $545,444,000 after purchasing an additional 6,175,047 shares in the last quarter. Bank of America Corp DE boosted its stake in Monster Beverage by 0.8% in the 1st quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock worth $908,102,000 after purchasing an additional 99,168 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Monster Beverage by 23.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after purchasing an additional 1,461,167 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Monster Beverage by 27.8% during the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock valued at $717,629,000 after purchasing an additional 1,624,416 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. BMO Capital Markets restated a “market perform” rating and issued a $47.50 price objective (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Citigroup reaffirmed a “buy” rating on shares of Monster Beverage in a report on Thursday, October 22nd. Morgan Stanley lifted their price objective on Monster Beverage from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Stifel Nicolaus set a $52.00 target price on Monster Beverage in a research report on Thursday, October 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $50.50 target price on shares of Monster Beverage in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.86.
View Our Latest Research Report on MNST
Monster Beverage Price Performance
NASDAQ:MNST opened at $47.34 on Friday. The business has a fifty day moving average price of $44.76 and a 200-day moving average price of $43.09. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17. The firm has a market capitalization of $92.74 billion, a price-to-earnings ratio of 43.83, a price-to-earnings-growth ratio of 2.98 and a beta of 0.49.
Monster Beverage (NASDAQ:MNST – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 EPS. On average, equities research analysts expect that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal 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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