E. Ohman J or Asset Management AB Buys 24,352 Shares of Monster Beverage Corporation $MNST

E. Ohman J or Asset Management AB raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 123.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,034 shares of the company's stock after purchasing an additional 24,352 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Monster Beverage were worth $1,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MNST. SBI Securities Co. Ltd. raised its position in Monster Beverage by 96.2% during the third quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company's stock worth $73,000 after acquiring an additional 861 shares during the period. Pinnacle Bancorp Inc. raised its holdings in shares of Monster Beverage by 100.0% during the third quarter. Pinnacle Bancorp Inc. now owns 680 shares of the company's stock valued at $28,000 after acquiring an additional 340 shares during the last quarter. Lmcg Investments LLC raised its holdings in shares of Monster Beverage by 97.3% during the third quarter. Lmcg Investments LLC now owns 31,651 shares of the company's stock valued at $1,317,000 after acquiring an additional 15,607 shares during the last quarter. Vest Financial LLC lifted its position in shares of Monster Beverage by 64.9% in the third quarter. Vest Financial LLC now owns 8,883 shares of the company's stock valued at $370,000 after acquiring an additional 3,495 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its position in shares of Monster Beverage by 100.0% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 6,000 shares of the company's stock worth $250,000 after purchasing an additional 3,000 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 2.3%

Shares of NASDAQ MNST opened at $46.19 on Friday. The stock has a market cap of $90.49 billion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49. Monster Beverage Corporation has a 52-week low of $32.94 and a 52-week high of $50.17. The business has a 50-day moving average price of $44.77 and a 200 day moving average price of $44.47.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MNST shares. Weiss Ratings cut shares of Monster Beverage from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday. The Goldman Sachs Group increased their target price on shares of Monster Beverage from $106.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Citigroup reissued a "buy" rating on shares of Monster Beverage in a research note on Thursday. Zacks Research upgraded shares of Monster Beverage from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. Finally, Stifel Nicolaus set a $52.00 price objective on shares of Monster Beverage in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $74.05.

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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