NewEdge Wealth LLC Boosts Position in Monster Beverage Corporation $MNST

NewEdge Wealth LLC raised its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 84.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 29,918 shares of the company’s stock after buying an additional 13,721 shares during the quarter. NewEdge Wealth LLC’s holdings in Monster Beverage were worth $2,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Physician Wealth Advisors Inc. lifted its stake in Monster Beverage by 508.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after purchasing an additional 315 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in Monster Beverage by 136.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after purchasing an additional 205 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 415 shares in the last quarter. First Horizon Corp purchased a new stake in Monster Beverage in the 3rd quarter worth approximately $29,000. Finally, Triumph Capital Management purchased a new stake in Monster Beverage in the 3rd quarter worth approximately $36,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Evercore raised their price target on Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft raised their price target on Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 8th. Bank of America lowered their price target on Monster Beverage from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Jefferies Financial Group set a $100.00 price target on Monster Beverage in a report on Wednesday, March 11th. Finally, Argus raised their price target on Monster Beverage from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.37.

Monster Beverage Stock Performance

Monster Beverage stock opened at $85.87 on Wednesday. The stock has a market cap of $83.98 billion, a P/E ratio of 41.48, a price-to-earnings-growth ratio of 2.92 and a beta of 0.50. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $88.77. The firm’s fifty day moving average price is $76.14 and its 200-day moving average price is $76.29.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.Monster Beverage’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. On average, analysts predict that Monster Beverage Corporation will post 2.3 earnings per share for the current year.

Monster Beverage Company 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.