Fort Washington Investment Advisors Inc. OH Purchases 517,216 Shares of Monster Beverage Corporation $MNST

Fort Washington Investment Advisors Inc. OH grew its position in Monster Beverage Corporation (NASDAQ:MNST) by 50.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,544,157 shares of the company’s stock after purchasing an additional 517,216 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Monster Beverage were worth $64,268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. William Allan Corp boosted its stake in shares of Monster Beverage by 99.8% in the 3rd quarter. William Allan Corp now owns 71,822 shares of the company’s stock valued at $2,989,000 after purchasing an additional 35,875 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Monster Beverage by 127.2% during the 3rd quarter. Mather Group LLC. now owns 25,496 shares of the company’s stock valued at $1,061,000 after purchasing an additional 14,275 shares during the last quarter. First Pacific Financial increased its position in Monster Beverage by 94.6% during the 3rd quarter. First Pacific Financial now owns 872 shares of the company’s stock worth $36,000 after purchasing an additional 424 shares in the last quarter. Fortitude Family Office LLC increased its position in Monster Beverage by 491.9% during the 3rd quarter. Fortitude Family Office LLC now owns 4,256 shares of the company’s stock worth $177,000 after purchasing an additional 3,537 shares in the last quarter. Finally, Strategy Asset Managers LLC increased its position in Monster Beverage by 99.5% during the 3rd quarter. Strategy Asset Managers LLC now owns 17,340 shares of the company’s stock worth $722,000 after purchasing an additional 8,647 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Up 2.1%

NASDAQ:MNST opened at $44.22 on Thursday. The company has a fifty day moving average of $44.72 and a 200-day moving average of $44.02. The firm has a market capitalization of $86.63 billion, a P/E ratio of 40.94, a P/E/G ratio of 2.69 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 announced its quarterly earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, beating 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 business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the business posted $0.26 EPS. Monster Beverage’s quarterly revenue was up 20.2% on a year-over-year basis. On average, analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore cut their target price on shares of Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. BNP Paribas Exane reissued a “neutral” rating and issued a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research note on Monday, September 28th. Piper Sandler raised their price objective on Monster Beverage from $47.00 to $50.50 and gave the stock an “overweight” rating in a research report on Friday, August 7th. UBS Group lifted their price objective on Monster Beverage from $52.00 to $52.50 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Sanford C. Bernstein decreased their target price on shares of Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target 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.