Monster Beverage Corporation $MNST Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. raised its stake in Monster Beverage by 17.9%, buying an additional 77,527 shares to own 511,000 shares worth about $39.18 million (roughly 0.05% of the company).
• Monster posted a strong quarter, beating EPS estimates ($0.51 vs. $0.49) and reporting $2.10 billion in revenue, up 17.6% year-over-year, with a 22.97% net margin.
• The stock trades with a market cap of about $73.4 billion and a P/E of 38.7; analysts have a consensus rating of Moderate Buy with an average target near $83.38 and several targets up to $100.00.

Assetmark Inc. raised its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 17.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 511,000 shares of the company's stock after buying an additional 77,527 shares during the quarter. Assetmark Inc. owned approximately 0.05% of Monster Beverage worth $39,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Third View Private Wealth LLC bought a new position in Monster Beverage in the 4th quarter worth about $7,889,000. Baillie Gifford & Co. increased its position in Monster Beverage by 18.5% in the 4th quarter. Baillie Gifford & Co. now owns 389,458 shares of the company's stock valued at $29,860,000 after acquiring an additional 60,665 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in Monster Beverage by 12.0% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 5,390 shares of the company's stock worth $413,000 after acquiring an additional 576 shares during the period. Choreo LLC boosted its position in Monster Beverage by 3.8% during the 4th quarter. Choreo LLC now owns 25,268 shares of the company's stock worth $1,956,000 after acquiring an additional 922 shares during the period. Finally, Fortune Financial Advisors LLC grew its stake in shares of Monster Beverage by 2.2% in the fourth quarter. Fortune Financial Advisors LLC now owns 27,518 shares of the company's stock worth $2,110,000 after purchasing an additional 581 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $75.08 on Wednesday. The stock has a market capitalization of $73.42 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 2.63 and a beta of 0.51. Monster Beverage Corporation has a 1-year low of $57.01 and a 1-year high of $87.38. The company has a 50 day moving average price of $77.83 and a 200 day moving average price of $75.06.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The company had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. The firm's revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Monster Beverage from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley reiterated an "overweight" rating and issued a $96.00 target price (up from $87.00) on shares of Monster Beverage in a research report on Monday, January 26th. Zacks Research cut shares of Monster Beverage from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 5th. Argus increased their price objective on shares of Monster Beverage from $95.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Finally, Jefferies Financial Group set a $100.00 target price on Monster Beverage in a report on Wednesday, March 11th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $83.38.

Monster Beverage Company Profile

Monster Beverage Corporation NASDAQ: MNST is an American beverage company best known for its Monster Energy brand of energy drinks. The company's product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen's Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.

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