Monster Beverage Corporation $MNST Shares Acquired by United Asset Strategies Inc.

Key Points

• United Asset Strategies Inc. doubled its Monster Beverage stake in the third quarter, purchasing 146,516 additional shares to own 292,529 shares valued at approximately $12.2 million.
• Institutional investors and hedge funds collectively own 72.36% of Monster Beverage, with several major firms increasing or initiating positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $71.86. Monster recently exceeded quarterly earnings and revenue expectations, reporting $0.60 EPS and $2.50 billion in revenue, up 20.2% year over year.

United Asset Strategies Inc. increased its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 100.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,529 shares of the company's stock after purchasing an additional 146,516 shares during the period. United Asset Strategies Inc.'s holdings in Monster Beverage were worth $12,175,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $5,770,004,000. Bank of America Corp DE bought a new stake in shares of Monster Beverage during the second quarter worth $1,195,360,000. Wellington Management Group LLP raised its position in shares of Monster Beverage by 27.8% during the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company's stock worth $717,629,000 after acquiring an additional 1,624,416 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of Monster Beverage during the second quarter valued at $593,075,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Monster Beverage by 23.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company's stock valued at $553,414,000 after acquiring an additional 1,461,167 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MNST shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $48.50 price target (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. Wells Fargo & Company restated an "overweight" rating and set a $50.00 target price (up from $48.00) on shares of Monster Beverage in a research report on Monday. Piper Sandler reaffirmed an "overweight" rating and issued a $50.50 target price on shares of Monster Beverage in a research note on Monday, October 19th. BNP Paribas Exane reiterated a "neutral" rating and set a $98.00 price target (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Finally, Jefferies Financial Group dropped their price target on shares of Monster Beverage from $108.00 to $54.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Monster Beverage has an average rating of "Moderate Buy" and a consensus target price of $71.86.

Monster Beverage Trading Up 1.5%

Shares of Monster Beverage stock opened at $46.35 on Friday. The company has a market capitalization of $90.80 billion, a PE ratio of 42.92, a PEG ratio of 2.88 and a beta of 0.49. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17. The stock's fifty day simple moving average is $44.76 and its 200 day simple moving average is $43.05.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) 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 firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. The company's revenue was up 20.2% on a year-over-year basis. Analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

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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