Monster Beverage Corporation $MNST Shares Bought by Ninety One SA Pty Ltd

Ninety One SA Pty Ltd grew its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 98.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,629 shares of the company’s stock after purchasing an additional 18,214 shares during the period. Ninety One SA Pty Ltd’s holdings in Monster Beverage were worth $1,539,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. CI Investments Inc. boosted its position in shares of Monster Beverage by 3.5% in the first quarter. CI Investments Inc. now owns 3,497 shares of the company’s stock valued at $253,000 after acquiring an additional 119 shares during the period. Root Financial Partners LLC increased its position in Monster Beverage by 2.8% during the first quarter. Root Financial Partners LLC now owns 4,981 shares of the company’s stock worth $361,000 after acquiring an additional 137 shares during the period. Wealth Alliance LLC increased its position in Monster Beverage by 2.2% during the first quarter. Wealth Alliance LLC now owns 6,752 shares of the company’s stock worth $489,000 after acquiring an additional 148 shares during the period. CX Institutional increased its position in Monster Beverage by 2.4% during the second quarter. CX Institutional now owns 6,384 shares of the company’s stock worth $614,000 after acquiring an additional 148 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in Monster Beverage by 1.0% during the 1st quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company’s stock valued at $1,275,000 after purchasing an additional 175 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on MNST shares. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $83.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. BNP Paribas Exane restated a “neutral” rating and issued a $98.00 price target (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. TD Cowen boosted their price objective on shares of Monster Beverage from $45.00 to $47.50 and gave the stock a “hold” rating in a report on Wednesday, July 8th. Piper Sandler upped their price objective on shares of Monster Beverage from $47.00 to $50.50 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of Monster Beverage in a research report on Wednesday, August 12th. 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. Based on data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.07.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded up $0.85 during trading on Thursday, hitting $45.08. 4,881,820 shares of the stock were exchanged, compared to its average volume of 11,169,418. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The company has a market capitalization of $88.30 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 2.69 and a beta of 0.49. The company’s fifty day simple moving average is $44.72 and its 200-day simple moving average is $44.02.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. Monster Beverage’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. On average, research analysts forecast that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Monster Beverage Company Profile

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company’s portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.