21,640 Monster Beverage Corporation $MNST Shares Acquired by IFP Advisors Inc

Key Points

• IFP Advisors increased its Monster Beverage position by 69.2% in the third quarter, acquiring 21,640 shares and bringing its holdings to 52,909 shares valued at approximately $2.2 million.
• Institutional investors own 72.36% of Monster Beverage, with several major firms—including Ninety One UK, Arrowstreet Capital and Wellington Management—also increasing their stakes.
• Monster Beverage reported quarterly revenue of $2.50 billion and earnings of $0.60 per share, beating analyst expectations; shares recently traded at $47.04, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $74.07.

IFP Advisors Inc raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 69.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,909 shares of the company's stock after acquiring an additional 21,640 shares during the period. IFP Advisors Inc's holdings in Monster Beverage were worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MNST. BlackRock Inc. bought a new stake in shares of Monster Beverage in the 2nd quarter worth about $5,770,004,000. Ninety One UK Ltd grew its position in Monster Beverage by 89.1% in the third 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 grew its position in Monster Beverage by 0.8% in the first 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 increased its stake 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 during the last quarter. Finally, Wellington Management Group LLP increased its stake 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 during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $47.04 on Wednesday. Monster Beverage Corporation has a 1 year low of $32.94 and a 1 year high of $50.17. The firm has a 50-day simple moving average of $44.75 and a two-hundred day simple moving average of $44.31. The company has a market cap of $92.15 billion, a P/E ratio of 41.60, a PEG ratio of 2.90 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its 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. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The company's quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a "market perform" rating and issued a $47.50 price objective (up from $36.50) on shares of Monster Beverage in a research note on Monday, July 20th. Zacks Research raised Monster Beverage from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. Piper Sandler reissued an "overweight" rating and set a $50.50 target price on shares of Monster Beverage in a research report on Monday. JPMorgan Chase & Co. increased their price target on Monster Beverage from $83.00 to $99.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Monster Beverage currently has an average rating of "Moderate Buy" and an average price target of $74.07.

Monster Beverage Company 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.

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