NorthCrest Asset Manangement LLC Buys 13,193 Shares of Monster Beverage Corporation $MNST

NorthCrest Asset Manangement LLC grew its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 106.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,536 shares of the company’s stock after purchasing an additional 13,193 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Monster Beverage were worth $1,115,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MNST. CI Investments Inc. lifted its stake in shares of Monster Beverage by 3.5% in the 1st quarter. CI Investments Inc. now owns 3,497 shares of the company’s stock valued at $253,000 after acquiring an additional 119 shares during the last quarter. Root Financial Partners LLC increased its position in Monster Beverage by 2.8% during the 1st quarter. Root Financial Partners LLC now owns 4,981 shares of the company’s stock valued at $361,000 after purchasing an additional 137 shares during the period. Wealth Alliance LLC raised its stake in Monster Beverage by 2.2% in the first quarter. Wealth Alliance LLC now owns 6,752 shares of the company’s stock worth $489,000 after buying an additional 148 shares in the last quarter. CX Institutional raised its position in shares of Monster Beverage by 2.4% in the 2nd quarter. CX Institutional now owns 6,384 shares of the company’s stock worth $614,000 after acquiring an additional 148 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Monster Beverage by 1.0% during the first quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company’s stock valued at $1,275,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 2.5%

Shares of Monster Beverage stock opened at $45.34 on Friday. The firm has a market cap of $88.82 billion, a PE ratio of 41.98, a PEG ratio of 2.74 and a beta of 0.49. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17. The stock has a 50 day moving average of $44.69 and a 200 day moving average of $44.09.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share 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 firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm posted $0.26 earnings per share. Monster Beverage’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts forecast that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on MNST. UBS Group boosted their price target on Monster Beverage from $52.00 to $52.50 and gave the stock a “neutral” rating in a research report on Friday, August 7th. TD Cowen raised their target price on shares of Monster Beverage from $45.00 to $47.50 and gave the stock a “hold” rating in a report on Wednesday, July 8th. BMO Capital Markets restated a “market perform” rating and set a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research note on Monday, July 20th. Morgan Stanley upped their price objective on Monster Beverage from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 target price (up from $98.00) on shares of Monster Beverage in a report on Monday, August 10th. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.