Monster Beverage Corporation $MNST Shares Acquired by NFSG Corp

NFSG Corp raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 27,371.6% in the third quarter, HoldingsChannel reports. The firm owned 20,329 shares of the company’s stock after acquiring an additional 20,255 shares during the period. NFSG Corp’s holdings in Monster Beverage were worth $846,000 as of its most recent SEC filing.

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

Monster Beverage Trading Up 2.5%

Shares of NASDAQ:MNST opened at $45.34 on Friday. Monster Beverage Corporation has a 12-month low of $32.94 and a 12-month high of $50.17. The business’s fifty day simple moving average is $44.69 and its 200-day simple moving average is $44.09. The company has a market capitalization of $88.82 billion, a PE ratio of 41.98, a P/E/G ratio of 2.74 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $2.50 billion during 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%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS. Research analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MNST. Royal Bank Of Canada reiterated an “outperform” rating and set a $48.50 target price (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. JPMorgan Chase & Co. boosted 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. Weiss Ratings raised shares of Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Wells Fargo & Company lowered their price target on shares of Monster Beverage from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Finally, Piper Sandler increased their price objective on shares of Monster Beverage from $47.00 to $50.50 and gave the company an “overweight” rating in a research note on Friday, August 7th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.07.

Monster Beverage 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.