Monster Beverage Corporation $MNST Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments increased its Monster Beverage stake by 148.5% in the third quarter, adding about 2.62 million shares to hold 4.39 million shares worth roughly $182.7 million.
• Monster reported quarterly EPS of $0.30, in line with estimates, while revenue of $2.53 billion exceeded forecasts and rose 16.7% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $67.07; 15 analysts rate the stock Buy and nine rate it Hold.

Russell Investments Group Ltd. increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 148.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,390,298 shares of the company's stock after purchasing an additional 2,623,419 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.22% of Monster Beverage worth $182,743,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC boosted its stake in Monster Beverage by 113.4% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock worth $25,000 after purchasing an additional 321 shares during the last quarter. Davis Capital Management grew its holdings in shares of Monster Beverage by 98.8% during the third quarter. Davis Capital Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 316 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Monster Beverage during the second quarter worth $27,000. Balance Wealth Partners LLC acquired a new stake in shares of Monster Beverage in the third quarter valued at about $27,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Monster Beverage in the second quarter valued at about $28,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MNST has been the topic of several research reports. BMO Capital Markets reissued a "market perform" rating and issued a $47.00 price target on shares of Monster Beverage in a research note on Monday. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of Monster Beverage in a research note on Friday, November 6th. BNP Paribas Exane reiterated a "neutral" rating and issued a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a report on Monday, September 28th. Weiss Ratings raised shares of Monster Beverage from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, November 3rd. Finally, Deutsche Bank reissued a "hold" rating and issued a $100.00 target price (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $67.07.

Monster Beverage Stock Up 0.4%

Shares of NASDAQ:MNST opened at $45.57 on Friday. Monster Beverage Corporation has a 52-week low of $35.03 and a 52-week high of $50.17. The stock has a market cap of $89.20 billion, a P/E ratio of 41.24, a PEG ratio of 2.98 and a beta of 0.51. The business has a fifty day moving average of $44.70 and a two-hundred day moving average of $43.39.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. Monster Beverage had a return on equity of 24.99% and a net margin of 22.66%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. On average, equities analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

About Monster Beverage

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages. The company traces its roots to Hansen's, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012. Based in Corona, California, Monster sells its products in the United States and internationally.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.