Apollon Wealth Management LLC Buys 23,404 Shares of Monster Beverage Corporation $MNST

Key Points

• Apollon Wealth Management more than doubled its Monster Beverage stake in the third quarter, buying 23,404 additional shares to own 42,615 shares valued at approximately $1.77 million.
• Institutional investors collectively own 72.36% of Monster Beverage, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $71.86.
• Monster Beverage reported quarterly EPS of $0.60, beating estimates by $0.02, while revenue reached $2.50 billion—up 20.2% year over year.

Apollon Wealth Management LLC grew its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 121.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,615 shares of the company's stock after buying an additional 23,404 shares during the period. Apollon Wealth Management LLC's holdings in Monster Beverage were worth $1,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CI Investments Inc. raised its position in shares of Monster Beverage by 3.5% during the 1st quarter. CI Investments Inc. now owns 3,497 shares of the company's stock valued at $253,000 after buying an additional 119 shares in the last quarter. Root Financial Partners LLC grew its position in Monster Beverage by 2.8% in the first quarter. Root Financial Partners LLC now owns 4,981 shares of the company's stock worth $361,000 after acquiring an additional 137 shares in the last quarter. Wealth Alliance LLC grew its position in Monster Beverage by 2.2% in the first quarter. Wealth Alliance LLC now owns 6,752 shares of the company's stock worth $489,000 after acquiring an additional 148 shares in the last quarter. CX Institutional grew its position in Monster Beverage by 2.4% in the second quarter. CX Institutional now owns 6,384 shares of the company's stock worth $614,000 after acquiring an additional 148 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in Monster Beverage by 1.0% in the first quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company's stock worth $1,275,000 after acquiring an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Sanford C. Bernstein reduced their target price on Monster Beverage from $95.00 to $50.00 in a research note on Sunday, August 23rd. Stifel Nicolaus set a $52.00 price target on Monster Beverage in a research note on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a report on Monday, August 10th. BNP Paribas Exane reiterated a "neutral" rating and set a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Finally, Piper Sandler reiterated an "overweight" rating and set a $50.50 price objective on shares of Monster Beverage in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.86.

Monster Beverage Price Performance

MNST opened at $46.35 on Friday. The stock's 50 day simple moving average is $44.76 and its 200 day simple moving average is $43.05. Monster Beverage Corporation has a 1 year low of $32.94 and a 1 year high of $50.17. The firm has a market cap of $90.80 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 2.88 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly 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. The business had revenue of $2.50 billion for 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 company's revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. As a group, sell-side analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current year.

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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