Monster Beverage Corporation $MNST Stock Position Raised by Ninety One SA Pty Ltd

Ninety One SA Pty Ltd lifted its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 98.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,629 shares of the company’s stock after buying an additional 18,214 shares during the period. Ninety One SA Pty Ltd’s holdings in Monster Beverage were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Monster Beverage in the second quarter valued at approximately $5,770,004,000. Bank of America Corp DE increased its holdings in shares of Monster Beverage by 0.8% in the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock valued at $908,102,000 after purchasing an additional 99,168 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Monster Beverage by 23.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after purchasing an additional 1,461,167 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Monster Beverage by 27.8% in the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock valued at $717,629,000 after purchasing an additional 1,624,416 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in Monster Beverage during the second quarter worth approximately $593,075,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Up 1.9%

NASDAQ:MNST traded up $0.85 on Thursday, reaching $45.08. The company’s stock had a trading volume of 4,881,820 shares, compared to its average volume of 11,169,418. Monster Beverage Corporation has a 12-month low of $32.94 and a 12-month high of $50.17. The firm has a market cap of $88.30 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 2.69 and a beta of 0.49. The stock has a 50 day moving average price of $44.72 and a 200 day moving average price of $44.02.

Monster Beverage (NASDAQ:MNST) last posted its 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. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. Monster Beverage’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. Equities research analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Zacks Research raised Monster Beverage from a “hold” rating to a “strong-buy” rating in a research note on Monday. Citigroup reaffirmed a “buy” rating on shares of Monster Beverage in a research note on Wednesday, August 12th. Evercore cut their target price on Monster Beverage from $95.00 to $52.00 in a research note on Thursday, October 8th. Stifel Nicolaus lifted their price target on Monster Beverage from $45.00 to $52.50 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.07.

About Monster Beverage

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.