28,253 Monster Beverage Corporation $MNST Shares Purchased by Choreo LLC

Key Points

• Choreo LLC more than doubled its Monster Beverage holdings in the third quarter, purchasing 28,253 additional shares for a total of 55,443 shares valued at approximately $2.31 million.
• Institutional investors own 72.36% of Monster Beverage, while several other firms also increased positions or initiated stakes during the quarter.
• Monster Beverage exceeded quarterly earnings and revenue expectations, reporting $0.60 EPS and $2.50 billion in revenue, up 20.2% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $71.86.

Choreo LLC increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 103.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,443 shares of the company's stock after purchasing an additional 28,253 shares during the quarter. Choreo LLC's holdings in Monster Beverage were worth $2,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MNST. Retirement Wealth Solutions LLC raised its position in Monster Beverage by 113.4% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock worth $25,000 after buying an additional 321 shares during the last quarter. Davis Capital Management lifted its stake in Monster Beverage by 98.8% during the 3rd quarter. Davis Capital Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 316 shares during the period. Johnson Financial Group Inc. bought a new position in Monster Beverage during the 2nd quarter valued at about $27,000. Balance Wealth Partners LLC bought a new position in Monster Beverage during the 3rd quarter valued at about $27,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at about $28,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Monster Beverage stock opened at $47.34 on Monday. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17. The stock has a fifty day moving average of $44.76 and a 200 day moving average of $43.09. The stock has a market cap of $92.74 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 2.98 and a beta of 0.51.

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

Wall Street Analyst Weigh In

MNST has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Monster Beverage from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 12th. Jefferies Financial Group decreased their price objective on shares of Monster Beverage from $108.00 to $54.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. BMO Capital Markets restated a "market perform" rating and set a $47.50 price objective (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. Piper Sandler restated an "overweight" rating and set a $50.50 price objective on shares of Monster Beverage in a research report on Monday, October 19th. Finally, Morgan Stanley raised their target price on shares of Monster Beverage from $103.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $71.86.

Monster Beverage 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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