Eurizon Capital SGR S.p.A. Purchases 961,024 Shares of Monster Beverage Corporation $MNST

Key Points

• Eurizon Capital SGR increased its Monster Beverage stake by 72.6% in the third quarter, buying 961,024 shares and bringing its holdings to 2.29 million shares, valued at about $95.2 million.
• Analyst sentiment was broadly positive: 15 analysts rated MNST a Buy and nine a Hold, for a consensus “Moderate Buy” rating and an average price target of $67.07.
• Monster reported quarterly revenue of $2.53 billion, up 16.7% year over year and above expectations; earnings of $0.30 per share matched consensus.

Eurizon Capital SGR S.p.A. boosted its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 72.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,285,462 shares of the company's stock after purchasing an additional 961,024 shares during the period. Eurizon Capital SGR S.p.A. owned 0.12% of Monster Beverage worth $95,220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MNST. Werba Rubin Papier Wealth Management grew its holdings in shares of Monster Beverage by 112.6% during the third quarter. Werba Rubin Papier Wealth Management now owns 7,839 shares of the company's stock worth $326,000 after purchasing an additional 4,152 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its stake in shares of Monster Beverage by 62.6% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 1,372 shares of the company's stock valued at $57,000 after buying an additional 528 shares during the period. CENTRAL TRUST Co increased its stake in shares of Monster Beverage by 100.3% in the third quarter. CENTRAL TRUST Co now owns 8,245 shares of the company's stock valued at $343,000 after buying an additional 4,128 shares during the period. Fifth Third Bancorp raised its holdings in Monster Beverage by 95.6% in the 3rd quarter. Fifth Third Bancorp now owns 782,598 shares of the company's stock valued at $32,572,000 after buying an additional 382,428 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC raised its holdings in Monster Beverage by 100.0% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 2,600 shares of the company's stock valued at $108,000 after buying an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MNST shares. UBS Group reiterated a "neutral" rating and set a $50.00 target price (up from $49.00) on shares of Monster Beverage in a research report on Friday, November 6th. Weiss Ratings raised shares of Monster Beverage from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, November 3rd. Royal Bank Of Canada restated an "outperform" rating and issued a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. BMO Capital Markets reaffirmed a "market perform" rating and set a $47.00 price target on shares of Monster Beverage in a research note on Monday. Finally, Citigroup reaffirmed a "buy" rating on shares of Monster Beverage in a research note on Thursday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.07.

Monster Beverage Trading Up 0.4%

NASDAQ MNST opened at $45.57 on Friday. The business's 50-day moving average price is $44.70 and its two-hundred day moving average price is $43.39. Monster Beverage Corporation has a 12 month low of $35.03 and a 12 month high of $50.17. The firm has a market capitalization of $89.20 billion, a PE ratio of 41.24, a price-to-earnings-growth ratio of 2.98 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Monster Beverage had a return on equity of 24.99% and a net margin of 22.66%. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The business's quarterly revenue was up 16.7% on a year-over-year basis. As a group, analysts forecast that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Monster Beverage Profile

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages. The company traces its roots to Hansen's, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012. Based in Corona, California, Monster sells its products in the United States and internationally.

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