Monster Beverage Corporation $MNST Shares Bought by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board more than doubled its Monster Beverage stake in the third quarter, increasing holdings by 107% to 42,940 shares valued at approximately $1.79 million. Institutional investors collectively own 72.36% of MNST.
• Analyst sentiment remains positive but mixed: Monster Beverage has a “Moderate Buy” consensus rating, with one Strong Buy, 15 Buys and eight Holds, while the average price target is $71.86.
• Monster Beverage shares opened at $47.34, near their 52-week high, and the company recently beat quarterly earnings and revenue estimates. Revenue increased 20.2% year over year, while EPS came in at $0.60 versus the $0.58 consensus estimate.

North Dakota State Investment Board grew its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 107.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,940 shares of the company's stock after buying an additional 22,197 shares during the quarter. North Dakota State Investment Board's holdings in Monster Beverage were worth $1,787,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. VestGen Advisors LLC grew its position in Monster Beverage by 89.8% during the 3rd quarter. VestGen Advisors LLC now owns 46,806 shares of the company's stock worth $1,948,000 after purchasing an additional 22,147 shares in the last quarter. Beacon Bank & Trust raised its stake in Monster Beverage by 100.0% during the 3rd quarter. Beacon Bank & Trust now owns 5,150 shares of the company's stock valued at $214,000 after purchasing an additional 2,575 shares during the period. Financial Insights Inc. raised its stake in Monster Beverage by 100.0% during the 3rd quarter. Financial Insights Inc. now owns 6,990 shares of the company's stock valued at $291,000 after purchasing an additional 3,495 shares during the period. Conning Inc. lifted its holdings in shares of Monster Beverage by 100.0% in the third quarter. Conning Inc. now owns 6,616 shares of the company's stock valued at $275,000 after purchasing an additional 3,308 shares in the last quarter. Finally, Generali Asset Management SPA SGR lifted its holdings in shares of Monster Beverage by 114.8% in the third quarter. Generali Asset Management SPA SGR now owns 208,355 shares of the company's stock valued at $8,672,000 after purchasing an additional 111,339 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MNST has been the subject of several recent analyst reports. Evercore decreased their target price on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. Sanford C. Bernstein dropped their price target on Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. JPMorgan Chase & Co. dropped their price target on Monster Beverage from $49.50 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, October 26th. The Goldman Sachs Group increased their price objective on Monster Beverage from $106.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. One 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 currently has an average rating of "Moderate Buy" and an average price target of $71.86.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $47.34 on Friday. The business has a 50 day simple moving average of $44.76 and a 200 day simple moving average of $43.09. Monster Beverage Corporation has a 52 week low of $32.94 and a 52 week high of $50.17. The stock has a market cap of $92.74 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 2.92 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. On average, analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current year.

About Monster Beverage

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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