Monster Beverage Corporation $MNST Stock Bought by United Asset Strategies Inc.

United Asset Strategies Inc. increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 100.3% in the third quarter, Holdings Channel reports. The institutional investor owned 292,529 shares of the company’s stock after buying an additional 146,516 shares during the period. United Asset Strategies Inc.’s holdings in Monster Beverage were worth $12,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MNST. BlackRock Inc. bought a new stake in Monster Beverage in the 2nd quarter valued at approximately $5,770,004,000. Bank of America Corp DE acquired a new position in Monster Beverage during the 2nd quarter worth approximately $1,195,360,000. Wellington Management Group LLP boosted its position in Monster Beverage by 27.8% during the 2nd 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 during the last quarter. Jupiter Topco LLC bought a new position in shares of Monster Beverage during the 2nd quarter worth approximately $593,075,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Monster Beverage by 23.7% during the 1st 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. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $46.35 on Friday. Monster Beverage Corporation has a 52-week low of $32.94 and a 52-week high of $50.17. The company has a market capitalization of $90.80 billion, a P/E ratio of 42.92, a price-to-earnings-growth ratio of 2.88 and a beta of 0.49. The company has a 50-day simple moving average of $44.76 and a 200 day simple moving average of $43.05.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, equities analysts forecast that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on MNST. Royal Bank Of Canada reiterated an “outperform” rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. JPMorgan Chase & Co. reduced their target price on shares of Monster Beverage from $49.50 to $49.00 and set a “neutral” rating for the company in a report on Monday. Citigroup reaffirmed a “buy” rating on shares of Monster Beverage in a research report on Thursday, October 22nd. Zacks Research upgraded shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. Finally, Morgan Stanley lifted their price target on shares of Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus target price of $71.86.

Monster Beverage Profile

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.