TD Asset Management Inc. boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 40.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 785,555 shares of the company’s stock after buying an additional 225,255 shares during the quarter. TD Asset Management Inc. owned approximately 0.15% of Monster Beverage worth $63,002,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Monster Beverage by 38.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 27,675 shares of the company’s stock valued at $1,918,000 after purchasing an additional 7,682 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Monster Beverage by 12.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,308 shares of the company’s stock valued at $91,000 after purchasing an additional 142 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $138,000. Bowling Portfolio Management LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $212,000. Finally, New York State Teachers Retirement System raised its holdings in shares of Monster Beverage by 2.6% in the 2nd quarter. New York State Teachers Retirement System now owns 513,153 shares of the company’s stock valued at $35,572,000 after purchasing an additional 13,110 shares in the last quarter. Institutional investors own 63.92% of the company’s stock.

MNST has been the subject of several recent research reports. Morgan Stanley upgraded shares of Monster Beverage from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $87.00 to $90.00 in a report on Tuesday, November 3rd. The Goldman Sachs Group lifted their price objective on shares of Monster Beverage from $87.00 to $93.00 in a research report on Thursday, August 13th. Jefferies Financial Group lifted their price objective on shares of Monster Beverage from $94.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Zacks Investment Research downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating and set a $83.00 price objective on the stock. in a research report on Tuesday, October 6th. Finally, BidaskClub raised shares of Monster Beverage from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $84.14.

NASDAQ:MNST opened at $83.52 on Friday. The company has a market cap of $44.09 billion, a PE ratio of 37.45, a P/E/G ratio of 3.05 and a beta of 1.11. Monster Beverage Co. has a twelve month low of $50.06 and a twelve month high of $88.40. The company’s 50 day moving average is $80.98 and its two-hundred day moving average is $76.33.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, November 5th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.22 billion. Monster Beverage had a net margin of 26.57% and a return on equity of 27.95%. Monster Beverage’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS. As a group, research analysts anticipate that Monster Beverage Co. will post 2.26 earnings per share for the current fiscal year.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, non-carbonated energy teas, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to bottling and canning operations.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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