Donoghue Forlines LLC Purchases Shares of 43,178 Monster Beverage Corporation $MNST

Donoghue Forlines LLC acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 43,178 shares of the company’s stock, valued at approximately $2,705,000.

A number of other large investors also recently modified their holdings of MNST. Vanguard Group Inc. grew its holdings in Monster Beverage by 1.8% during the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after buying an additional 1,151,175 shares in the last quarter. Geode Capital Management LLC lifted its stake in Monster Beverage by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 18,680,424 shares of the company’s stock valued at $1,165,292,000 after acquiring an additional 742,518 shares in the last quarter. Invesco Ltd. boosted its holdings in Monster Beverage by 6.6% during the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after acquiring an additional 563,353 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Monster Beverage by 4.9% in the 2nd quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock worth $560,282,000 after acquiring an additional 418,918 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Monster Beverage in the 1st quarter worth $497,157,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.9%

Shares of NASDAQ:MNST opened at $71.08 on Friday. The stock has a market cap of $69.40 billion, a P/E ratio of 44.15, a P/E/G ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $72.62. The company has a 50 day moving average of $67.22 and a 200 day moving average of $63.77.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MNST. Royal Bank Of Canada restated an “outperform” rating on shares of Monster Beverage in a report on Thursday, November 6th. Stifel Nicolaus boosted their target price on Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Piper Sandler upped their target price on Monster Beverage from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $69.62.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.