22,147 Monster Beverage Corporation $MNST Shares Bought by VestGen Advisors LLC

Key Points

• VestGen Advisors nearly doubled its Monster Beverage stake in the third quarter, buying 22,147 additional shares for a total of 46,806 shares valued at approximately $1.95 million.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 72.36% of MNST’s outstanding shares. Recent analyst coverage is generally positive, resulting in a consensus “Moderate Buy” rating and an average price target of $71.86.
• Monster Beverage reported stronger-than-expected quarterly results, including $0.60 in EPS and $2.50 billion in revenue; revenue increased 20.2% year over year, while shares recently opened at $47.34.

VestGen Advisors LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 89.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,806 shares of the company's stock after buying an additional 22,147 shares during the quarter. VestGen Advisors LLC's holdings in Monster Beverage were worth $1,948,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Johnson Financial Group Inc. acquired a new position in Monster Beverage in the 2nd quarter worth about $27,000. Jones Financial Companies Lllp purchased a new position in Monster Beverage in the 2nd quarter worth approximately $28,000. Trust Co. of Vermont acquired a new position in shares of Monster Beverage during the 2nd quarter valued at about $30,000. NBH Bank acquired a new position in Monster Beverage in the second quarter valued at approximately $32,000. Finally, Clearstead Trust LLC acquired a new position in shares of Monster Beverage in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

MNST has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Monster Beverage from $49.50 to $49.00 and set a "neutral" rating for the company in a research report on Monday, October 26th. Jefferies Financial Group decreased their target price on Monster Beverage from $108.00 to $54.00 and set a "buy" rating for the company in a research report on Thursday, September 3rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. BMO Capital Markets reaffirmed a "market perform" rating and set a $47.50 price objective (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Finally, UBS Group raised their price objective on Monster Beverage from $52.00 to $52.50 and gave the company a "neutral" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $71.86.

Monster Beverage Stock Performance

Shares of MNST opened at $47.34 on Friday. The company has a market capitalization of $92.74 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.92 and a beta of 0.49. The company's 50 day simple moving average is $44.76 and its 200 day simple moving average is $43.09. Monster Beverage Corporation has a 1 year low of $32.94 and a 1 year high of $50.17.

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, topping the consensus estimate of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the previous year, the company earned $0.26 EPS. Monster Beverage's revenue for the quarter was up 20.2% on a year-over-year basis. Equities analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

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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