Sterling Capital Management LLC grew its stake in Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 93.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,832 shares of the company’s stock after purchasing an additional 46,670 shares during the period. Sterling Capital Management LLC’s holdings in Monster Beverage were worth $4,030,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the stock. CI Investments Inc. raised its holdings in shares of Monster Beverage by 3.5% in the 1st quarter. CI Investments Inc. now owns 3,497 shares of the company’s stock worth $253,000 after buying an additional 119 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of Monster Beverage by 2.8% during the 1st quarter. Root Financial Partners LLC now owns 4,981 shares of the company’s stock worth $361,000 after buying an additional 137 shares during the period. Wealth Alliance LLC boosted its stake in Monster Beverage by 2.2% in the 1st quarter. Wealth Alliance LLC now owns 6,752 shares of the company’s stock valued at $489,000 after buying an additional 148 shares in the last quarter. CX Institutional boosted its stake in Monster Beverage by 2.4% in the 2nd quarter. CX Institutional now owns 6,384 shares of the company’s stock valued at $614,000 after buying an additional 148 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in Monster Beverage by 1.0% in the 1st quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company’s stock valued at $1,275,000 after buying an additional 175 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.
Monster Beverage Price Performance
Shares of MNST opened at $46.19 on Friday. The company has a market capitalization of $90.49 billion, a P/E ratio of 42.77, a PEG ratio of 2.87 and a beta of 0.49. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17. The business’s 50 day simple moving average is $44.77 and its 200-day simple moving average is $44.47.
Monster Beverage (NASDAQ:MNST – Get Free Report) last released its quarterly 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. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the company earned $0.26 EPS. Monster Beverage’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, sell-side analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on MNST shares. Wells Fargo & Company dropped their price objective on Monster Beverage from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. Jefferies Financial Group reduced their target price on shares of Monster Beverage from $108.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. UBS Group boosted their target price on shares of Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.50 target price (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $47.50 target price (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and an average target price of $74.05.
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.
Featured Stories
- Five stocks we like better than Monster Beverage
- Bloom Energy Just Reported—Its Biggest Order Is Still Waiting on a Pipeline
- Why Western Digital’s AI Storage Boom Defies the Chip Sell-Off
- Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided
- Amex Stock Slides on Job Cuts, But the Real Story Is Macro
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.
