Jain Global LLC Takes Position in Monster Beverage Corporation $MNST

Jain Global LLC purchased a new position in Monster Beverage Corporation (NASDAQ:MNST) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 125,029 shares of the company’s stock, valued at approximately $8,416,000.

A number of other hedge funds have also recently made changes to their positions in MNST. Jones Financial Companies Lllp lifted its position in shares of Monster Beverage by 397.9% during the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after buying an additional 12,148 shares during the last quarter. Sivia Capital Partners LLC increased its position in Monster Beverage by 247.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock valued at $813,000 after buying an additional 9,251 shares in the last quarter. Allworth Financial LP raised its stake in Monster Beverage by 68.7% in the second quarter. Allworth Financial LP now owns 5,083 shares of the company’s stock valued at $318,000 after buying an additional 2,070 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Monster Beverage by 16.5% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 17,543 shares of the company’s stock valued at $1,096,000 after buying an additional 2,489 shares during the last quarter. Finally, Advisors Capital Management LLC boosted its holdings in Monster Beverage by 3.6% in the second quarter. Advisors Capital Management LLC now owns 6,514 shares of the company’s stock worth $408,000 after acquiring an additional 228 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 0.1%

Shares of NASDAQ MNST opened at $77.05 on Tuesday. Monster Beverage Corporation has a 52 week low of $54.73 and a 52 week high of $87.38. The business’s 50 day moving average price is $80.20 and its 200 day moving average price is $73.62. The firm has a market cap of $75.28 billion, a P/E ratio of 39.72, a P/E/G ratio of 2.49 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the company earned $0.39 earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis. As a group, research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analyst Weigh In

MNST has been the topic of several recent analyst reports. BNP Paribas Exane upgraded shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price objective on the stock in a report on Friday, January 16th. TD Cowen lifted their target price on shares of Monster Beverage from $80.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Zacks Research downgraded shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. The Goldman Sachs Group upped their price target on shares of Monster Beverage from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Finally, Citigroup raised their price target on shares of Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.95.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.