35,875 Monster Beverage Corporation $MNST Shares Acquired by William Allan Corp

Key Points

• William Allan Corp nearly doubled its Monster Beverage position in the third quarter, purchasing 35,875 additional shares for a total of 71,822 shares valued at approximately $2.99 million.
• Institutional investors own 72.36% of Monster Beverage, with major investors including BlackRock, Bank of America, Wellington Management, Jupiter Topco, and Arrowstreet Capital.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $74.07. Monster Beverage recently exceeded quarterly earnings and revenue estimates, reporting $0.60 EPS and $2.50 billion in revenue, up 20.2% year over year.

William Allan Corp raised its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 99.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,822 shares of the company's stock after buying an additional 35,875 shares during the period. Monster Beverage accounts for 1.6% of William Allan Corp's investment portfolio, making the stock its 22nd biggest holding. William Allan Corp's holdings in Monster Beverage were worth $2,989,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Monster Beverage in the second quarter valued at approximately $5,770,004,000. Bank of America Corp DE purchased a new stake in shares of Monster Beverage during the second quarter valued at approximately $1,195,360,000. Wellington Management Group LLP lifted its holdings 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 period. Jupiter Topco LLC bought a new stake in Monster Beverage during the second quarter worth $593,075,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings 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 period. Institutional investors own 72.36% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on MNST shares. Stifel Nicolaus boosted their price objective on Monster Beverage from $45.00 to $52.50 and gave the stock a "buy" rating in a research report on Thursday, July 16th. UBS Group raised their target price on Monster Beverage from $52.00 to $52.50 and gave the company a "neutral" rating in a research report on Friday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $48.50 target price (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. BNP Paribas Exane reiterated a "neutral" rating and set a $98.00 target price (up from $84.00) on shares of Monster Beverage in a research note on Monday, September 28th. Finally, Sanford C. Bernstein cut their price target on shares of Monster Beverage from $95.00 to $50.00 in a report on Sunday, August 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Monster Beverage currently has an average rating of "Moderate Buy" and an average target price of $74.07.

Monster Beverage Stock Up 2.1%

Monster Beverage stock opened at $44.22 on Thursday. The firm has a 50 day moving average price of $44.72 and a 200-day moving average price of $44.02. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17. The company has a market capitalization of $86.63 billion, a P/E ratio of 40.94, a P/E/G ratio of 2.69 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. Monster Beverage's revenue 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 Profile

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company's portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.