BG Investment Services LLC Makes New Investment in Monster Beverage Corporation $MNST

Key Points

• BG Investment Services LLC acquired 93,731 Monster Beverage shares during the third quarter, worth approximately $3.9 million. Institutional investors and hedge funds collectively own 72.36% of the company.
• Analysts maintain a generally positive outlook, with one Strong Buy, 15 Buy and eight Hold ratings. Monster Beverage has a consensus rating of “Moderate Buy” and an average price target of $74.05.
• Monster Beverage’s shares opened at $46.19, while its latest quarterly results exceeded expectations: earnings were $0.60 per share versus $0.58 expected, and revenue rose 20.2% year over year to $2.50 billion.

BG Investment Services LLC acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 93,731 shares of the company's stock, valued at approximately $3,901,000.

Several other institutional investors have also bought and sold shares of the stock. Oxbow Advisors LLC lifted its stake in Monster Beverage by 70.7% during the first quarter. Oxbow Advisors LLC now owns 85,814 shares of the company's stock valued at $6,218,000 after purchasing an additional 35,528 shares during the last quarter. Whittier Trust Co. boosted its holdings in Monster Beverage by 2,304.9% during the first quarter. Whittier Trust Co. now owns 231,852 shares of the company's stock worth $17,194,000 after buying an additional 222,211 shares in the last quarter. Swedbank AB grew its position in Monster Beverage by 19.6% in the first quarter. Swedbank AB now owns 472,529 shares of the company's stock worth $34,239,000 after buying an additional 77,485 shares during the last quarter. OP Asset Management Ltd acquired a new position in Monster Beverage in the first quarter worth approximately $5,314,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Monster Beverage by 9,515.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 95,576 shares of the company's stock valued at $7,088,000 after buying an additional 94,582 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. 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. Stifel Nicolaus set a $52.00 price objective on Monster Beverage in a research note on Thursday. Royal Bank Of Canada restated an "outperform" rating and issued a $48.50 target price (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. UBS Group boosted their target price on Monster Beverage from $52.00 to $52.50 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group reduced their target price on Monster Beverage from $108.00 to $54.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.05.

Monster Beverage Stock Down 2.3%

Shares of NASDAQ:MNST opened at $46.19 on Friday. The company's fifty day moving average is $44.77 and its two-hundred day moving average is $44.47. The company has a market cap of $90.49 billion, a P/E ratio of 42.77, a price-to-earnings-growth ratio of 2.87 and a beta of 0.49. Monster Beverage Corporation has a 12-month low of $32.94 and a 12-month high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. Monster Beverage's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities research analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share 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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