11,332 Monster Beverage Corporation $MNST Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its stake in Monster Beverage Corporation (NASDAQ:MNST) by 103.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,286 shares of the company’s stock after purchasing an additional 11,332 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Monster Beverage were worth $928,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Monster Beverage during the second quarter worth $5,770,004,000. Bank of America Corp DE bought a new stake in Monster Beverage in the second quarter valued at about $1,195,360,000. Wellington Management Group LLP lifted its stake in 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 buying an additional 1,624,416 shares during the period. Jupiter Topco LLC acquired a new position in Monster Beverage in the second quarter valued at about $593,075,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in 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 buying an additional 1,461,167 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Sanford C. Bernstein reduced their target price on Monster Beverage from $95.00 to $50.00 in a report on Sunday, August 23rd. Stifel Nicolaus set a $52.00 price target on Monster Beverage in a research note on Thursday, October 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $50.00 price target (up from $48.00) on shares of Monster Beverage in a research note on Monday. BNP Paribas Exane reiterated a “neutral” rating and issued a $98.00 price target (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Finally, Piper Sandler reissued an “overweight” rating and set a $50.50 price objective on shares of Monster Beverage in a research note on Monday, October 19th. One investment 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. According to MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and an average price target of $71.86.

Monster Beverage Stock Up 0.5%

Monster Beverage stock opened at $45.66 on Thursday. The stock has a market capitalization of $89.45 billion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 2.91 and a beta of 0.49. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17. The company has a 50 day moving average of $44.78 and a 200-day moving average of $43.01.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business posted $0.26 earnings per share. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. Equities analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

About Monster Beverage

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.