Monster Beverage Corporation $MNST Shares Purchased by Axecap Investments LLC

Key Points

• Axecap Investments increased its Monster Beverage stake by 129.1% in the third quarter, owning 115,499 shares valued at approximately $4.8 million. Institutional investors collectively hold 72.36% of MNST shares.
• Monster Beverage reported quarterly earnings of $0.60 per share, exceeding estimates by $0.02, while revenue rose 20.2% year over year to $2.50 billion.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus rating of “Moderate Buy” and an average price target of $74.07.

Axecap Investments LLC grew its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 129.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,499 shares of the company's stock after buying an additional 65,076 shares during the quarter. Monster Beverage accounts for about 2.9% of Axecap Investments LLC's holdings, making the stock its 15th biggest position. Axecap Investments LLC's holdings in Monster Beverage were worth $4,807,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its stake in shares of Monster Beverage by 6.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 197,899 shares of the company's stock worth $15,173,000 after acquiring an additional 12,050 shares during the period. Oxbow Advisors LLC raised its stake in Monster Beverage by 70.7% in the 1st quarter. Oxbow Advisors LLC now owns 85,814 shares of the company's stock valued at $6,218,000 after acquiring an additional 35,528 shares during the period. Whittier Trust Co. raised its stake in Monster Beverage by 2,304.9% in the 1st quarter. Whittier Trust Co. now owns 231,852 shares of the company's stock valued at $17,194,000 after acquiring an additional 222,211 shares during the period. Swedbank AB lifted its holdings in Monster Beverage by 19.6% during the first quarter. Swedbank AB now owns 472,529 shares of the company's stock valued at $34,239,000 after purchasing an additional 77,485 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new stake in Monster Beverage during the first quarter valued at about $5,314,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Stock Up 0.5%

Shares of NASDAQ MNST opened at $47.04 on Wednesday. The company has a market cap of $92.15 billion, a P/E ratio of 43.56, a P/E/G ratio of 2.90 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. The business has a 50-day simple moving average of $44.75 and a two-hundred day simple moving average of $44.31.

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 for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the prior year, the business posted $0.26 earnings per share. The company's revenue was up 20.2% on a year-over-year basis. Equities research analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current year.

Analyst Ratings Changes

MNST has been the subject of a number of research reports. BNP Paribas Exane reiterated a "neutral" rating and set a $98.00 target price (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research report on Monday, August 10th. BMO Capital Markets reissued a "market perform" rating and issued a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. Wells Fargo & Company dropped their price target on shares of Monster Beverage from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Monday, October 5th. Finally, Citigroup reaffirmed a "buy" rating on shares of Monster Beverage in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of "Moderate Buy" and an average target price of $74.07.

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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