Monster Beverage Corporation $MNST Stake Boosted by Quadrant Capital Group LLC

Quadrant Capital Group LLC grew its position in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 107.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,318 shares of the company’s stock after acquiring an additional 14,157 shares during the quarter. Quadrant Capital Group LLC’s holdings in Monster Beverage were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Monster Beverage during the second quarter valued at about $5,770,004,000. Bank of America Corp DE bought a new stake in Monster Beverage in the 2nd quarter worth about $1,195,360,000. Wellington Management Group LLP grew its position in Monster Beverage by 27.8% in the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock worth $717,629,000 after purchasing an additional 1,624,416 shares in the last quarter. Jupiter Topco LLC purchased a new stake in Monster Beverage in the 2nd quarter valued at about $593,075,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Monster Beverage by 23.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after buying an additional 1,461,167 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Shares of MNST opened at $46.19 on Friday. The firm has a market cap of $90.49 billion, a P/E ratio of 42.77, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49. Monster Beverage Corporation has a fifty-two week low of $32.94 and a fifty-two week high of $50.17. The business has a 50-day moving average of $44.77 and a 200 day moving average of $44.47.

Monster Beverage (NASDAQ:MNST – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 earnings per share. As a group, research analysts predict that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MNST has been the topic of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $50.50 target price on shares of Monster Beverage in a research note on Monday. Citigroup reaffirmed a “buy” rating on shares of Monster Beverage in a research report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target (up from $98.00) on shares of Monster Beverage in a report on Monday, August 10th. BNP Paribas Exane restated a “neutral” rating and issued a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research note on Monday, September 28th. Finally, Evercore decreased their target price on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and an average price target of $74.05.

View Our Latest Analysis on Monster Beverage

About Monster Beverage

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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