22,560 Monster Beverage Corporation $MNST Shares Bought by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. lifted its position in Monster Beverage Corporation (NASDAQ:MNST) by 257.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,324 shares of the company’s stock after acquiring an additional 22,560 shares during the period. Contravisory Investment Management Inc.’s holdings in Monster Beverage were worth $1,304,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MNST. BlackRock Inc. bought a new stake in Monster Beverage during the second quarter worth $5,770,004,000. Bank of America Corp DE acquired a new stake in Monster Beverage in the second quarter valued at $1,195,360,000. Jupiter Topco LLC bought a new position in shares of Monster Beverage in the 2nd quarter valued at about $593,075,000. Legal & General Group Plc bought a new position in shares of Monster Beverage in the 2nd quarter valued at about $478,694,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $440,838,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Price Performance

Monster Beverage stock traded down $0.45 during trading hours on Tuesday, hitting $43.31. The company had a trading volume of 7,847,857 shares, compared to its average volume of 11,203,195. The firm has a market cap of $84.85 billion, a PE ratio of 40.10, a PEG ratio of 2.85 and a beta of 0.49. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17. The firm has a 50-day moving average of $44.79 and a 200 day moving average of $43.96.

Monster Beverage (NASDAQ:MNST) last posted its 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 company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. As a group, research analysts expect that Monster Beverage Corporation will post 1.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.50 target price (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Wells Fargo & Company reduced their price target on Monster Beverage from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Argus boosted their price target on Monster Beverage from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Stifel Nicolaus boosted their price target on Monster Beverage from $45.00 to $52.50 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley upped their price objective on Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.07.

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.