Monster Beverage Corporation $MNST Stake Boosted by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super doubled its Monster Beverage stake during the third quarter, acquiring 428,582 additional shares for a total of 857,164 shares valued at approximately $35.7 million.
• Institutional ownership remains substantial, with hedge funds and other institutional investors holding 72.36% of MNST’s outstanding stock; several major firms also increased their positions.
• Monster Beverage reported stronger-than-expected quarterly results, with EPS of $0.60 and revenue of $2.50 billion, up 20.2% year over year. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $71.86.

Aware Super Pty Ltd as trustee of Aware Super lifted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 100.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 857,164 shares of the company's stock after acquiring an additional 428,582 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super's holdings in Monster Beverage were worth $35,675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MNST. BlackRock Inc. purchased a new stake in shares of Monster Beverage during the 2nd quarter worth about $5,770,004,000. Ninety One UK Ltd grew its stake in shares of Monster Beverage by 89.1% in the 3rd quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company's stock valued at $545,444,000 after buying an additional 6,175,047 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Monster Beverage by 0.8% in the 1st quarter. Bank of America Corp DE now owns 12,532,462 shares of the company's stock valued at $908,102,000 after buying an additional 99,168 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Monster Beverage by 23.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company's stock worth $553,414,000 after buying an additional 1,461,167 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Monster Beverage by 27.8% in the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company's stock worth $717,629,000 after buying an additional 1,624,416 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Up 1.4%

NASDAQ:MNST opened at $48.02 on Tuesday. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17. The firm has a market cap of $94.07 billion, a price-to-earnings ratio of 40.59, a P/E/G ratio of 2.88 and a beta of 0.49. The company's 50 day moving average is $44.76 and its 200-day moving average is $43.14.

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, topping analysts' consensus estimates of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The business had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the previous year, the company earned $0.26 earnings per share. Monster Beverage's revenue for the quarter was up 20.2% on a year-over-year basis. Research analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on MNST. TD Cowen raised their price objective on shares of Monster Beverage from $45.00 to $47.50 and gave the company a "hold" rating in a research report on Wednesday, July 8th. Sanford C. Bernstein dropped their price target on shares of Monster Beverage from $95.00 to $50.00 in a research note on Sunday, August 23rd. Citigroup restated a "buy" rating on shares of Monster Beverage in a report on Thursday, October 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. Finally, UBS Group upped their price objective on shares of Monster Beverage from $52.00 to $52.50 and gave the stock a "neutral" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $71.86.

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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