Monster Beverage Corporation $MNST Shares Bought by Gibbs Wealth Management

Key Points

• Gibbs Wealth Management more than doubled its Monster Beverage position during the third quarter, increasing holdings by 125.7% to 69,513 shares valued at approximately $2.9 million.
• Monster Beverage recently reported strong quarterly results, with earnings of $0.60 per share and revenue of $2.50 billion, exceeding analyst estimates; revenue rose 20.2% year over year.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $74.05, despite shares trading down 2.3%.

Gibbs Wealth Management increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 125.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,513 shares of the company's stock after acquiring an additional 38,717 shares during the quarter. Gibbs Wealth Management's holdings in Monster Beverage were worth $2,893,000 as of its most recent filing with the Securities and Exchange Commission.

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

Monster Beverage Trading Down 2.3%

NASDAQ:MNST opened at $46.19 on Friday. The company has a market capitalization of $90.49 billion, a P/E ratio of 42.77, a price-to-earnings-growth ratio of 2.87 and a beta of 0.49. The firm has a 50-day moving average price of $44.77 and a two-hundred day moving average price of $44.47. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 earnings per share. On average, equities research analysts predict that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on MNST. The Goldman Sachs Group lifted their price target on Monster Beverage from $106.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Weiss Ratings cut Monster Beverage from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, October 19th. UBS Group raised 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. TD Cowen lifted their price target on shares of Monster Beverage from $45.00 to $47.50 and gave the company a "hold" rating in a research report on Wednesday, July 8th. Finally, Piper Sandler reiterated an "overweight" rating and set a $50.50 price target on shares of Monster Beverage in a research report on Monday, October 19th. One investment 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $74.05.

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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