Monster Beverage Corporation $MNST Stock Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. raised its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 257.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,324 shares of the company’s stock after buying an additional 22,560 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Monster Beverage were worth $1,304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Monster Beverage in the 2nd quarter valued at $5,770,004,000. Bank of America Corp DE raised its stake in Monster Beverage by 0.8% during the 1st quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock worth $908,102,000 after buying an additional 99,168 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Monster Beverage by 23.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock worth $553,414,000 after acquiring an additional 1,461,167 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Monster Beverage by 27.8% during the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock worth $717,629,000 after acquiring an additional 1,624,416 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in Monster Beverage during the second quarter worth about $593,075,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Price Performance

Shares of MNST traded down $0.45 during midday trading on Tuesday, hitting $43.31. The stock had a trading volume of 7,847,857 shares, compared to its average volume of 11,203,195. The company has a 50 day simple moving average of $44.79 and a two-hundred day simple moving average of $43.96. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17. The firm has a market cap of $84.85 billion, a price-to-earnings ratio of 40.10, a price-to-earnings-growth ratio of 2.85 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last issued its quarterly 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 analyst estimates of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. Analysts forecast that Monster Beverage Corporation will post 1.11 EPS for the current fiscal year.

Analyst Ratings Changes

MNST has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Monster Beverage from $83.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Argus lifted their price objective on Monster Beverage from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, June 15th. Citigroup reiterated a “buy” rating on shares of Monster Beverage in a research report on Wednesday, August 12th. Jefferies Financial Group lowered their target price on Monster Beverage from $108.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Finally, Stifel Nicolaus raised their target price on shares of Monster Beverage from $45.00 to $52.50 and gave the stock a “buy” rating in a report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and an average target price of $74.07.

Monster Beverage Company Profile

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.