Concurrent Investment Advisors LLC Purchases 13,568 Shares of Monster Beverage Corporation $MNST

Key Points

• Concurrent Investment Advisors LLC increased its stake in Monster Beverage by 63.7% in Q4, buying 13,568 shares and now holding 34,852 shares valued at about $2.67 million.
• Institutional ownership stands at 72.36%, with recent large moves including ABN AMRO establishing a new ~$59.2M position and Nordea boosting holdings to 880,061 shares (~$67.7M).
• Monster beat Q4 estimates (EPS $0.51 vs. $0.49) with revenue up 17.6% year-over-year, and analysts have a consensus Moderate Buy rating with an average price target of $84.55.

Concurrent Investment Advisors LLC grew its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 63.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,852 shares of the company's stock after buying an additional 13,568 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Monster Beverage were worth $2,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perigon Wealth Management LLC lifted its holdings in shares of Monster Beverage by 87.8% during the 3rd quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company's stock valued at $2,163,000 after buying an additional 15,029 shares during the period. ABN AMRO Bank N.V. bought a new position in shares of Monster Beverage during the 3rd quarter valued at $59,170,000. Nordea Investment Management AB lifted its holdings in shares of Monster Beverage by 12.2% during the 4th quarter. Nordea Investment Management AB now owns 880,061 shares of the company's stock valued at $67,738,000 after buying an additional 95,606 shares during the period. Inscription Capital LLC lifted its holdings in shares of Monster Beverage by 130.6% during the 3rd quarter. Inscription Capital LLC now owns 25,260 shares of the company's stock valued at $1,700,000 after buying an additional 14,305 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Monster Beverage by 2,436.3% during the 3rd quarter. UMB Bank n.a. now owns 57,371 shares of the company's stock valued at $3,862,000 after buying an additional 55,109 shares during the period. 72.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of recent research reports. TD Cowen decreased their target price on Monster Beverage from $88.00 to $80.00 and set a "hold" rating on the stock in a report on Monday, April 20th. Piper Sandler raised their target price on Monster Beverage from $85.00 to $94.00 and gave the stock an "overweight" rating in a report on Friday, February 27th. UBS Group decreased their target price on Monster Beverage from $92.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, April 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $96.00 target price (up from $87.00) on shares of Monster Beverage in a report on Monday, January 26th. Finally, Wells Fargo & Company cut their price target on Monster Beverage from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Monster Beverage has an average rating of "Moderate Buy" and a consensus price target of $84.55.

Monster Beverage Trading Up 0.4%

MNST opened at $77.19 on Wednesday. The firm has a market cap of $75.48 billion, a P/E ratio of 39.79, a P/E/G ratio of 2.69 and a beta of 0.51. Monster Beverage Corporation has a 12 month low of $58.01 and a 12 month high of $87.38. The stock has a 50-day moving average of $76.84 and a 200 day moving average of $75.67.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm's revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. On average, research analysts forecast that Monster Beverage Corporation will post 2.29 earnings per share for the current fiscal year.

Monster Beverage Profile

Monster Beverage Corporation NASDAQ: MNST is an American beverage company best known for its Monster Energy brand of energy drinks. The company's product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen's Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.

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