IFP Advisors Inc Purchases 7,085 Shares of Monster Beverage Corporation $MNST

IFP Advisors Inc raised its position in Monster Beverage Corporation (NASDAQ:MNST) by 154.1% during the third quarter, HoldingsChannel.com reports. The firm owned 11,683 shares of the company’s stock after purchasing an additional 7,085 shares during the period. IFP Advisors Inc’s holdings in Monster Beverage were worth $796,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MNST. Physician Wealth Advisors Inc. boosted its position in shares of Monster Beverage by 508.1% during the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after buying an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Monster Beverage in the third quarter worth approximately $27,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after buying an additional 415 shares during the period. First Horizon Corp bought a new stake in shares of Monster Beverage during the 3rd quarter worth approximately $29,000. Finally, Armstrong Advisory Group Inc. lifted its stake in shares of Monster Beverage by 49.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock worth $30,000 after acquiring an additional 146 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a research report on Monday, December 29th. Argus lifted their target price on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. BNP Paribas Exane raised shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 target price for the company in a research note on Friday, January 16th. Zacks Research cut shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wells Fargo & Company reduced their price target on shares of Monster Beverage from $94.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.95.

Monster Beverage Stock Up 0.4%

Shares of NASDAQ:MNST opened at $73.96 on Tuesday. The business’s 50 day moving average is $80.00 and its 200 day moving average is $74.03. The stock has a market cap of $72.26 billion, a P/E ratio of 38.12, a price-to-earnings-growth ratio of 2.38 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.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the company posted $0.39 EPS. Monster Beverage’s revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

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.