21,800 Monster Beverage Corporation $MNST Shares Acquired by Mainsail Financial Group LLC

Key Points

• Mainsail Financial Group nearly doubled its Monster Beverage position in the third quarter, acquiring 21,800 shares to hold 43,993 shares valued at approximately $1.83 million. Institutional investors collectively own 72.36% of MNST.
• Monster Beverage reported quarterly EPS of $0.60, exceeding estimates of $0.58, while revenue reached $2.50 billion and rose 20.2% year over year. The stock opened at $46.19, with a market capitalization of $90.49 billion.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $74.05, despite several recent target-price reductions.

Mainsail Financial Group LLC grew its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 98.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,993 shares of the company's stock after acquiring an additional 21,800 shares during the quarter. Mainsail Financial Group LLC's holdings in Monster Beverage were worth $1,831,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC grew its holdings in Monster Beverage by 113.4% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock valued at $25,000 after purchasing an additional 321 shares during the last quarter. Davis Capital Management raised its position in Monster Beverage by 98.8% in the 3rd quarter. Davis Capital Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 316 shares during the period. Johnson Financial Group Inc. purchased a new stake in Monster Beverage in the 2nd quarter worth about $27,000. Jones Financial Companies Lllp bought a new stake in Monster Beverage in the second quarter worth about $28,000. Finally, Pinnacle Bancorp Inc. lifted its stake in Monster Beverage by 100.0% in the third quarter. Pinnacle Bancorp Inc. now owns 680 shares of the company's stock worth $28,000 after purchasing an additional 340 shares during the last quarter. Institutional investors own 72.36% of the company's stock.

Monster Beverage Price Performance

MNST stock opened at $46.19 on Monday. The company has a market capitalization of $90.49 billion, a PE ratio of 42.77, a P/E/G ratio of 2.91 and a beta of 0.49. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17. The firm's 50-day moving average is $44.77 and its 200 day moving average is $44.52.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. Sell-side analysts forecast that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MNST shares. Evercore dropped their target price on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. Piper Sandler reiterated an "overweight" rating and issued a $50.50 price target on shares of Monster Beverage in a report on Monday, October 19th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $48.50 price target (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. Wells Fargo & Company decreased their price target on Monster Beverage from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. Finally, Morgan Stanley boosted their price objective on Monster Beverage from $103.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $74.05.

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.

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