Motley Fool Asset Management LLC lifted its position in Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 110.5% in the third quarter, HoldingsChannel reports. The firm owned 160,217 shares of the company’s stock after buying an additional 84,103 shares during the period. Motley Fool Asset Management LLC’s holdings in Monster Beverage were worth $6,668,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MNST. Pinnacle Wealth Planning Services Inc. raised its position in shares of Monster Beverage by 98.8% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 12,951 shares of the company’s stock valued at $539,000 after buying an additional 6,435 shares during the period. North Dakota State Investment Board grew its position in Monster Beverage by 107.0% in the third quarter. North Dakota State Investment Board now owns 42,940 shares of the company’s stock worth $1,787,000 after acquiring an additional 22,197 shares during the period. VestGen Advisors LLC grew its position in Monster Beverage by 89.8% in the third quarter. VestGen Advisors LLC now owns 46,806 shares of the company’s stock worth $1,948,000 after acquiring an additional 22,147 shares during the period. Beacon Bank & Trust grew its position in Monster Beverage by 100.0% in the third quarter. Beacon Bank & Trust now owns 5,150 shares of the company’s stock worth $214,000 after acquiring an additional 2,575 shares during the period. Finally, Financial Insights Inc. increased its stake in Monster Beverage by 100.0% during the third quarter. Financial Insights Inc. now owns 6,990 shares of the company’s stock worth $291,000 after acquiring an additional 3,495 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.
Monster Beverage Price Performance
Shares of Monster Beverage stock opened at $45.66 on Thursday. The firm’s fifty day simple moving average is $44.78 and its 200-day simple moving average is $43.01. The stock has a market capitalization of $89.45 billion, a price-to-earnings ratio of 42.28, a PEG ratio of 2.91 and a beta of 0.49. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17.
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, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. Monster Beverage’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. Analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have commented on MNST shares. UBS Group upped their target price on shares of Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a research report on Friday, August 7th. TD Cowen lifted their price target on shares of Monster Beverage from $45.00 to $47.50 and gave the company a “hold” rating in a research report on Wednesday, July 8th. Citigroup reiterated a “buy” rating on shares of Monster Beverage in a research report on Thursday, October 22nd. Zacks Research raised shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Monster Beverage from $49.50 to $49.00 and set a “neutral” rating on the stock in a report on Monday. 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 company presently has an average rating of “Moderate Buy” and an average target price of $71.86.
Check Out Our Latest Stock Report on MNST
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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