Monster Beverage Corporation $MNST Shares Bought by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 72.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,285,462 shares of the company’s stock after buying an additional 961,024 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Monster Beverage were worth $95,220,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Monster Beverage during the second quarter valued at $5,770,004,000. Ninety One UK Ltd raised its position in shares of Monster Beverage by 89.1% in the 3rd quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock worth $545,444,000 after acquiring an additional 6,175,047 shares in the last quarter. Bank of America Corp DE raised its position in shares of Monster Beverage by 0.8% in the 1st quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock worth $908,102,000 after acquiring an additional 99,168 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Monster Beverage by 23.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after purchasing an additional 1,461,167 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Monster Beverage by 27.8% in the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock valued at $717,629,000 after purchasing an additional 1,624,416 shares during the period. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MNST shares. JPMorgan Chase & Co. cut their target price on Monster Beverage from $49.50 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, October 26th. Morgan Stanley lifted their target price on Monster Beverage from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Deutsche Bank reiterated a “hold” rating and issued a $100.00 target price (up from $98.00) on shares of Monster Beverage in a report on Monday, August 10th. Stifel Nicolaus set a $52.00 price target on Monster Beverage in a research note on Thursday, October 22nd. Finally, BMO Capital Markets restated a “market perform” rating and set a $47.00 price target on shares of Monster Beverage in a report on Monday. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.07.

Monster Beverage Trading Up 0.4%

MNST opened at $45.57 on Friday. Monster Beverage Corporation has a 1-year low of $35.03 and a 1-year high of $50.17. The company has a market cap of $89.20 billion, a price-to-earnings ratio of 41.24, a PEG ratio of 2.98 and a beta of 0.51. The company’s fifty day moving average price is $44.70 and its two-hundred day moving average price is $43.39.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Monster Beverage had a net margin of 22.66% and a return on equity of 24.99%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS. As a group, equities analysts forecast that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Monster Beverage Company Profile

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.