45,826 Shares of Monster Beverage Corporation $MNST Bought by Cyndeo Wealth Partners LLC

Key Points

• Cyndeo Wealth Partners purchased 45,826 Monster Beverage shares worth approximately $1.9 million in the third quarter. Institutional investors and hedge funds collectively own 72.36% of MNST.
• Wall Street maintains a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $74.07, despite several analysts recently lowering their targets.
• Monster Beverage reported quarterly EPS of $0.60 versus the $0.58 consensus and revenue of $2.50 billion, up 20.2% year over year. Shares recently opened at $45.73, near their 50-day and 200-day moving averages.

Cyndeo Wealth Partners LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 45,826 shares of the company's stock, valued at approximately $1,907,000.

Several other institutional investors have also made changes to their positions in the company. Retirement Wealth Solutions LLC grew its stake in shares of Monster Beverage by 113.4% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock valued at $25,000 after buying an additional 321 shares in the last quarter. Davis Capital Management raised its position in Monster Beverage by 98.8% during the third quarter. Davis Capital Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 316 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Monster Beverage during the second quarter valued at approximately $27,000. Jones Financial Companies Lllp bought a new position in Monster Beverage during the second quarter valued at approximately $28,000. Finally, MV Capital Management Inc. acquired a new stake in Monster Beverage in the fourth quarter valued at approximately $30,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus boosted their target price on shares of Monster Beverage from $45.00 to $52.50 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Royal Bank Of Canada restated an "outperform" rating and set a $48.50 price target (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. Citigroup restated a "buy" rating on shares of Monster Beverage in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Finally, Evercore decreased their price objective on shares of Monster Beverage from $95.00 to $52.00 in a report on Thursday, October 8th. One investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.07.

Monster Beverage Stock Performance

Shares of MNST stock opened at $45.73 on Friday. The stock's 50 day simple moving average is $44.70 and its 200 day simple moving average is $44.10. 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 $89.59 billion, a price-to-earnings ratio of 42.34, a PEG ratio of 2.84 and a beta of 0.49.

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 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 during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company's revenue was up 20.2% on a year-over-year basis. On average, analysts forecast that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

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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