ProShare Advisors LLC increased its position in Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 112.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,164,706 shares of the company’s stock after purchasing an additional 1,146,007 shares during the period. ProShare Advisors LLC’s holdings in Monster Beverage were worth $90,095,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MNST. Vise Technologies Inc. raised its holdings in shares of Monster Beverage by 120.2% during the third quarter. Vise Technologies Inc. now owns 70,711 shares of the company’s stock valued at $2,943,000 after purchasing an additional 38,593 shares during the last quarter. Summit Global Investments grew its position in Monster Beverage by 14.5% in the 3rd quarter. Summit Global Investments now owns 84,918 shares of the company’s stock worth $3,534,000 after purchasing an additional 10,756 shares during the period. MGO One Seven LLC raised its stake in Monster Beverage by 102.2% during the 3rd quarter. MGO One Seven LLC now owns 30,106 shares of the company’s stock valued at $1,253,000 after buying an additional 15,216 shares during the last quarter. Aprio Wealth Management LLC raised its stake in Monster Beverage by 99.5% during the 3rd quarter. Aprio Wealth Management LLC now owns 9,272 shares of the company’s stock valued at $386,000 after buying an additional 4,625 shares during the last quarter. Finally, Avestar Capital LLC lifted its holdings in shares of Monster Beverage by 83.2% during the 3rd quarter. Avestar Capital LLC now owns 13,517 shares of the company’s stock valued at $563,000 after buying an additional 6,137 shares during the period. 72.36% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on MNST shares. UBS Group raised 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. The Goldman Sachs Group increased their target price on Monster Beverage from $106.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 7th. BNP Paribas Exane reissued a “neutral” rating and issued a $98.00 target price (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Finally, Zacks Research raised shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.86.
Check Out Our Latest Stock Analysis on MNST
Monster Beverage Price Performance
MNST opened at $47.34 on Monday. The firm has a market cap of $92.74 billion, a P/E ratio of 43.83, a PEG ratio of 2.98 and a beta of 0.51. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The company has a 50 day simple moving average of $44.76 and a two-hundred day simple moving average of $43.09.
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, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $2.50 billion during 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 company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 earnings per share. Equities analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current year.
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.
Read More
- Five stocks we like better than Monster Beverage
- STMicroelectronics Could Reach New Highs—Here’s What Needs to Happen
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST – Free Report).
Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.
