Holocene Advisors LP Purchases Shares of 526,883 Monster Beverage Corporation $MNST

Holocene Advisors LP acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 526,883 shares of the company’s stock, valued at approximately $35,464,000. Holocene Advisors LP owned approximately 0.05% of Monster Beverage at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Monster Beverage by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after acquiring an additional 2,122,685 shares in the last quarter. State Street Corp boosted its stake in Monster Beverage by 2.6% in the second quarter. State Street Corp now owns 34,929,818 shares of the company’s stock valued at $2,188,004,000 after acquiring an additional 900,479 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Monster Beverage by 1.5% in the second quarter. Loomis Sayles & Co. L P now owns 26,450,305 shares of the company’s stock valued at $1,656,847,000 after acquiring an additional 385,692 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Monster Beverage by 6.3% during the third quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock worth $785,885,000 after purchasing an additional 692,192 shares during the last quarter. Finally, Ninety One UK Ltd grew its holdings in shares of Monster Beverage by 11.3% during the third quarter. Ninety One UK Ltd now owns 9,957,835 shares of the company’s stock worth $670,262,000 after purchasing an additional 1,013,356 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Down 0.1%

NASDAQ MNST opened at $77.05 on Tuesday. The firm has a market cap of $75.28 billion, a P/E ratio of 39.72, a P/E/G ratio of 2.49 and a beta of 0.44. Monster Beverage Corporation has a 52-week low of $54.73 and a 52-week high of $87.38. The business’s 50-day moving average price is $80.20 and its 200 day moving average price is $73.62.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the business earned $0.39 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. As a group, analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MNST has been the subject of several research reports. Wells Fargo & Company reduced their target price on Monster Beverage from $94.00 to $90.00 and set an “overweight” rating for the company in a report on Monday. Piper Sandler raised their price target on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. UBS Group lifted their price target on Monster Beverage from $84.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. BMO Capital Markets reiterated a “market perform” rating and issued a $73.00 price objective (up from $53.00) on shares of Monster Beverage in a research note on Wednesday, December 3rd. Finally, Bank of America increased their price objective on Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a report on Friday, December 19th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and an average target price of $83.95.

Monster Beverage Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.