Monster Beverage Corporation $MNST Position Reduced by Annex Advisory Services LLC

Key Points

• Annex Advisory Services reduced its Monster Beverage position by 65.9% in the third quarter, selling 58,581 shares and retaining 30,304 shares valued at approximately $1.26 million.
• Other institutional investors largely increased their holdings, including Ninety One UK, Arrowstreet Capital and Wellington Management; institutions collectively own 72.36% of MNST shares.
• Monster Beverage shares opened at $45.73, while the company reported quarterly revenue of $2.50 billion and earnings of $0.60 per share, exceeding analyst expectations. Analysts maintain a consensus “Moderate Buy” rating with a $74.07 target price.

Annex Advisory Services LLC cut its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 65.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,304 shares of the company's stock after selling 58,581 shares during the period. Annex Advisory Services LLC's holdings in Monster Beverage were worth $1,261,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MNST. BlackRock Inc. purchased a new stake in Monster Beverage during the 2nd quarter valued at about $5,770,004,000. Ninety One UK Ltd grew its holdings in shares of Monster Beverage by 89.1% in the third quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company's stock worth $545,444,000 after purchasing an additional 6,175,047 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Monster Beverage by 0.8% in the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company's stock worth $908,102,000 after purchasing an additional 99,168 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Monster Beverage by 23.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company's stock worth $553,414,000 after buying an additional 1,461,167 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Monster Beverage by 27.8% in the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company's stock worth $717,629,000 after buying an additional 1,624,416 shares during the period. 72.36% of the stock is owned by institutional investors.

Monster Beverage Stock Up 0.9%

Shares of Monster Beverage stock opened at $45.73 on Friday. The company has a market cap of $89.59 billion, a PE ratio of 42.34, a P/E/G ratio of 2.84 and a beta of 0.49. The business has a 50 day moving average of $44.70 and a 200 day moving average of $44.10. Monster Beverage Corporation has a 52 week low of $32.94 and a 52 week high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, beating 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 business had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, research analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Monster Beverage from $45.00 to $52.50 and gave the company a "buy" rating in a report on Thursday, July 16th. TD Cowen raised their price target on shares of Monster Beverage from $45.00 to $47.50 and gave the stock a "hold" rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $100.00 price target (up from $98.00) on shares of Monster Beverage in a report on Monday, August 10th. Sanford C. Bernstein decreased their price objective on shares of Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. Finally, UBS Group upped their price objective on shares of Monster Beverage from $52.00 to $52.50 and gave the company a "neutral" rating in a research note 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $74.07.

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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