Monster Beverage Corporation $MNST Holdings Raised by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Monster Beverage stake by 399.2% in the third quarter, bringing its holdings to 33,613 shares valued at approximately $1.4 million. Other institutional investors also raised their positions, and institutions collectively own 72.36% of MNST.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $74.07, although some firms recently reduced their targets while others raised them.
• Monster Beverage reported strong quarterly results, posting $0.60 in earnings per share and $2.50 billion in revenue, exceeding estimates; revenue increased 20.2% year over year.

First Citizens Bank & Trust Co. grew its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 399.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,613 shares of the company's stock after purchasing an additional 26,880 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Monster Beverage were worth $1,399,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MNST. Signal Advisors Wealth LLC increased its holdings in shares of Monster Beverage by 148.2% in the third quarter. Signal Advisors Wealth LLC now owns 53,095 shares of the company's stock valued at $2,210,000 after purchasing an additional 31,702 shares during the period. Ifrah Financial Services Inc. lifted its holdings in Monster Beverage by 528.2% in the third quarter. Ifrah Financial Services Inc. now owns 22,225 shares of the company's stock valued at $925,000 after acquiring an additional 18,687 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of Monster Beverage by 117.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,453 shares of the company's stock worth $477,000 after purchasing an additional 6,178 shares during the period. Krilogy Financial LLC grew its position in Monster Beverage by 88.8% during the third quarter. Krilogy Financial LLC now owns 12,937 shares of the company's stock valued at $566,000 after buying an additional 6,085 shares during the period. Finally, Verus Wealth Management LLC acquired a new position in shares of Monster Beverage in the third quarter worth about $241,000. Institutional investors own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on Monster Beverage from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Monday, October 5th. Morgan Stanley lifted their price target on Monster Beverage from $103.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Royal Bank Of Canada restated an "outperform" rating and set a $48.50 price target (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. Zacks Research raised Monster Beverage from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, UBS Group boosted their target price on Monster Beverage from $52.00 to $52.50 and gave the company a "neutral" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.07.

Monster Beverage Stock Performance

MNST opened at $45.34 on Friday. The business's 50-day simple moving average is $44.69 and its 200-day simple moving average is $44.09. The company has a market cap of $88.82 billion, a P/E ratio of 41.98, a PEG ratio of 2.74 and a beta of 0.49. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $0.26 EPS. Monster Beverage's revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, analysts predict that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Monster Beverage Company Profile

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company's portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.

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