Monster Beverage Corporation $MNST Stock: Knights of Columbus Asset Advisors LLC Raises Holdings

Knights of Columbus Asset Advisors LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 81.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,103 shares of the company’s stock after purchasing an additional 115,027 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Monster Beverage were worth $10,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MNST. BlackRock Inc. purchased a new position in Monster Beverage during the second quarter valued at approximately $5,770,004,000. Bank of America Corp DE acquired a new position in Monster Beverage in the 2nd quarter valued at approximately $1,195,360,000. Wellington Management Group LLP lifted its position in Monster Beverage by 27.8% in the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock worth $717,629,000 after buying an additional 1,624,416 shares in the last quarter. Jupiter Topco LLC purchased a new stake in Monster Beverage in the 2nd quarter worth approximately $593,075,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Monster Beverage by 23.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock worth $553,414,000 after buying an additional 1,461,167 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 target price (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Morgan Stanley upped their price target on shares of Monster Beverage from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Evercore cut their price objective on Monster Beverage from $95.00 to $52.00 in a report on Thursday, October 8th. Piper Sandler increased their price objective on Monster Beverage from $50.50 to $53.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. Finally, Sanford C. Bernstein lifted their price objective on Monster Beverage from $50.00 to $51.00 and gave the company a “market perform” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.07.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $45.34 on Wednesday. The business has a 50 day simple moving average of $44.67 and a 200 day simple moving average of $43.34. Monster Beverage Corporation has a 52 week low of $35.03 and a 52 week high of $50.17. The stock has a market cap of $88.75 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 2.95 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. Monster Beverage had a net margin of 22.66% and a return on equity of 24.99%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 earnings per share. On average, analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current year.

About Monster Beverage

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages. The company traces its roots to Hansen’s, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012. Based in Corona, California, Monster sells its products in the United States and internationally.