Kenora Financial LLC Buys 66,028 Shares of Monster Beverage Corporation $MNST

Key Points

• Kenora Financial nearly doubled its Monster Beverage position in the third quarter, adding 66,028 shares to own 132,720 shares valued at approximately $5.5 million. Institutional investors collectively own 72.36% of MNST.
• Monster Beverage shares opened at $46.80, up 2.3%, with a market capitalization of $91.68 billion. The company recently beat quarterly earnings and revenue estimates, reporting $0.60 in EPS and $2.50 billion in revenue, with revenue up 20.2% year over year.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $74.07, despite several analysts maintaining Hold ratings.

Kenora Financial LLC raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 99.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,720 shares of the company's stock after acquiring an additional 66,028 shares during the period. Monster Beverage makes up 1.8% of Kenora Financial LLC's portfolio, making the stock its 13th biggest position. Kenora Financial LLC's holdings in Monster Beverage were worth $5,524,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MNST. CI Investments Inc. grew its stake in shares of Monster Beverage by 3.5% in the first quarter. CI Investments Inc. now owns 3,497 shares of the company's stock valued at $253,000 after buying an additional 119 shares in the last quarter. Root Financial Partners LLC increased its position in shares of Monster Beverage by 2.8% in the 1st quarter. Root Financial Partners LLC now owns 4,981 shares of the company's stock worth $361,000 after purchasing an additional 137 shares during the last quarter. Wealth Alliance LLC grew its position in shares of Monster Beverage by 2.2% in the 1st quarter. Wealth Alliance LLC now owns 6,752 shares of the company's stock worth $489,000 after acquiring an additional 148 shares in the last quarter. CX Institutional lifted its position in shares of Monster Beverage by 2.4% in the 2nd quarter. CX Institutional now owns 6,384 shares of the company's stock worth $614,000 after buying an additional 148 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in Monster Beverage by 1.0% during the 1st quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company's stock valued at $1,275,000 after purchasing an additional 175 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Up 2.3%

Shares of MNST stock opened at $46.80 on Tuesday. The firm has a market capitalization of $91.68 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 2.84 and a beta of 0.49. The firm's 50 day moving average is $44.72 and its 200-day moving average is $44.23. Monster Beverage Corporation has a 1 year low of $32.94 and a 1 year high of $50.17.

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

Analyst Ratings Changes

MNST has been the subject of several research reports. TD Cowen raised their target price on Monster Beverage from $45.00 to $47.50 and gave the company a "hold" rating in a research note on Wednesday, July 8th. UBS Group boosted their price objective on shares of Monster Beverage from $52.00 to $52.50 and gave the stock a "neutral" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $83.00 to $99.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. The Goldman Sachs Group boosted their price objective on Monster Beverage from $106.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Citigroup reissued a "buy" rating on shares of Monster Beverage in a report on Wednesday, August 12th. One research 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $74.07.

Monster Beverage Company 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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