NorthCrest Asset Manangement LLC Acquires 13,193 Shares of Monster Beverage Corporation $MNST

NorthCrest Asset Manangement LLC raised its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 106.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 25,536 shares of the company’s stock after buying an additional 13,193 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Monster Beverage were worth $1,115,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MNST. BlackRock Inc. bought a new position in Monster Beverage in the second quarter worth approximately $5,770,004,000. Bank of America Corp DE grew its stake in Monster Beverage by 0.8% in the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock valued at $908,102,000 after purchasing an additional 99,168 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Monster Beverage by 23.7% during the 1st 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 in the last quarter. Wellington Management Group LLP increased its position in shares of Monster Beverage by 27.8% during the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock worth $717,629,000 after purchasing an additional 1,624,416 shares in the last quarter. Finally, Jupiter Topco LLC acquired a new position in Monster Beverage during the 2nd quarter valued at about $593,075,000. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Trading Up 2.5%

NASDAQ:MNST opened at $45.34 on Friday. The company’s 50-day moving average price is $44.69 and its 200-day moving average price is $44.09. The company has a market cap of $88.82 billion, a P/E ratio of 41.98, a P/E/G ratio of 2.74 and a beta of 0.49. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results 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. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $0.26 earnings per share. Monster Beverage’s quarterly revenue was up 20.2% on a year-over-year basis. On average, analysts expect that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MNST. Morgan Stanley upped their price target on shares of Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Jefferies Financial Group reduced their price target on Monster Beverage from $108.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. The Goldman Sachs Group upped their price objective on shares of Monster Beverage from $106.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Stifel Nicolaus increased their target price on Monster Beverage from $45.00 to $52.50 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and an average target price of $74.07.

About Monster Beverage

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.