Monster Beverage Corporation $MNST Shares Acquired by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd nearly doubled its Monster Beverage stake in the third quarter, adding 6.18 million shares to hold 13.1 million shares valued at approximately $545.4 million. Institutional investors collectively own 72.36% of MNST.
• Monster Beverage reported strong quarterly results, with revenue rising 20.2% year over year to $2.50 billion and earnings per share of $0.60, exceeding analysts’ $0.58 estimate.
• MNST shares recently traded near $45, while analysts maintained a generally positive outlook: the stock carries a “Moderate Buy” consensus rating and a $74.07 average price target, despite several target-price reductions.

Ninety One UK Ltd increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 89.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,105,329 shares of the company's stock after purchasing an additional 6,175,047 shares during the quarter. Monster Beverage accounts for about 1.3% of Ninety One UK Ltd's investment portfolio, making the stock its 22nd largest holding. Ninety One UK Ltd owned about 0.67% of Monster Beverage worth $545,444,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MNST. Ninety One SA Pty Ltd boosted its holdings in shares of Monster Beverage by 98.9% in the 3rd quarter. Ninety One SA Pty Ltd now owns 36,629 shares of the company's stock valued at $1,539,000 after buying an additional 18,214 shares during the period. State of Alaska Department of Revenue raised its stake in Monster Beverage by 93.7% during the third quarter. State of Alaska Department of Revenue now owns 135,468 shares of the company's stock worth $5,638,000 after acquiring an additional 65,514 shares during the period. Ninety One North America Inc. raised its stake in Monster Beverage by 87.7% during the third quarter. Ninety One North America Inc. now owns 855,485 shares of the company's stock worth $35,605,000 after acquiring an additional 399,636 shares during the period. Turtle Creek Wealth Advisors LLC lifted its holdings in Monster Beverage by 149.5% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 12,420 shares of the company's stock worth $517,000 after acquiring an additional 7,443 shares during the last quarter. Finally, WealthPlan Investment Management LLC lifted its holdings in Monster Beverage by 118.1% in the third quarter. WealthPlan Investment Management LLC now owns 11,239 shares of the company's stock worth $468,000 after acquiring an additional 6,085 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded up $0.85 during trading hours on Thursday, hitting $45.07. The stock had a trading volume of 4,952,686 shares, compared to its average volume of 11,170,627. The stock's fifty day simple moving average is $44.72 and its 200 day simple moving average is $44.02. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The firm has a market capitalization of $88.30 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 2.69 and a beta of 0.49.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, research analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BMO Capital Markets reiterated a "market perform" rating and set a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. Wells Fargo & Company reduced their price objective on Monster Beverage from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday, October 5th. Citigroup restated a "buy" rating on shares of Monster Beverage in a research report on Wednesday, August 12th. BNP Paribas Exane restated a "neutral" rating and set a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research note on Monday, September 28th. Finally, Evercore dropped their target price on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Monster Beverage has an average rating of "Moderate Buy" and a consensus price target of $74.07.

About Monster Beverage

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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