Monster Beverage Corporation $MNST Shares Newly Acquired by Adams Diversified Equity Fund Inc.

Key Points

• Adams Diversified Equity Fund acquired 412,100 Monster Beverage shares worth approximately $17.2 million in the third quarter. Institutional investors collectively own 72.36% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $74.05, although several firms recently lowered their targets.
• Monster Beverage reported quarterly revenue of $2.50 billion, up 20.2% year over year, and earnings of $0.60 per share, exceeding analyst expectations.

Adams Diversified Equity Fund Inc. purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 412,100 shares of the company's stock, valued at approximately $17,152,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Monster Beverage in the 2nd quarter worth approximately $5,770,004,000. Bank of America Corp DE bought a new stake in Monster Beverage in the second quarter worth $1,195,360,000. Ninety One UK Ltd lifted its position in 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 buying an additional 6,175,047 shares during the last quarter. Jupiter Topco LLC purchased a new position in Monster Beverage during the second quarter worth $593,075,000. Finally, Legal & General Group Plc purchased a new position in Monster Beverage during the second quarter worth $478,694,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on MNST. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a research report on Monday, August 10th. Stifel Nicolaus set a $52.00 target price on shares of Monster Beverage in a report on Thursday. Evercore lowered their target price on shares of Monster Beverage from $95.00 to $52.00 in a report on Thursday, October 8th. Weiss Ratings cut shares of Monster Beverage from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $48.50 price target (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.05.

Monster Beverage Stock Up 1.5%

Shares of Monster Beverage stock opened at $47.33 on Friday. The stock's fifty day moving average is $44.78 and its two-hundred day moving average is $44.46. The company has a market capitalization of $92.72 billion, a PE ratio of 41.45, a price-to-earnings-growth ratio of 2.89 and a beta of 0.49. 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 earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, topping 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $0.26 earnings per share. The business's revenue 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 earnings per share 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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