Fifth Third Wealth Advisors LLC Acquires 23,453 Shares of Monster Beverage Corporation $MNST

Key Points

• Fifth Third Wealth Advisors nearly doubled its Monster Beverage stake in the third quarter, acquiring 23,453 additional shares for a total of 47,683 shares valued at approximately $1.99 million.
• Monster Beverage reported strong quarterly results, with revenue up 20.2% year over year to $2.50 billion and EPS of $0.60, exceeding analysts’ $0.58 estimate. Institutional investors collectively own 72.36% of the company.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $74.05, compared with a recent share price of $46.19.

Fifth Third Wealth Advisors LLC increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 96.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,683 shares of the company's stock after buying an additional 23,453 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Monster Beverage were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC raised its position in Monster Beverage by 113.4% during the third quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock worth $25,000 after acquiring an additional 321 shares during the period. Davis Capital Management grew its position in shares of Monster Beverage by 98.8% in the third quarter. Davis Capital Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 316 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Monster Beverage in the second quarter valued at about $27,000. Jones Financial Companies Lllp acquired a new stake in shares of Monster Beverage in the second quarter valued at about $28,000. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Monster Beverage by 100.0% during the third quarter. Pinnacle Bancorp Inc. now owns 680 shares of the company's stock worth $28,000 after purchasing an additional 340 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $46.19 on Friday. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17. The stock has a market cap of $90.49 billion, a PE ratio of 42.77, a P/E/G ratio of 2.87 and a beta of 0.49. The stock 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 issued its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The company had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the prior year, the business earned $0.26 EPS. The firm's quarterly revenue was up 20.2% on a year-over-year basis. As a group, analysts predict that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on MNST shares. Morgan Stanley upped their price target on shares of Monster Beverage from $103.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. TD Cowen lifted their price objective on Monster Beverage from $45.00 to $47.50 and gave the stock a "hold" rating in a report on Wednesday, July 8th. BNP Paribas Exane reiterated a "neutral" rating and issued a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a report on Monday, September 28th. Piper Sandler reiterated an "overweight" rating and set a $50.50 price objective on shares of Monster Beverage in a research note on Monday, October 19th. 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 analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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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