Monster Beverage Corporation $MNST Stock Acquired by Sterling Capital Management LLC

Key Points

• Sterling Capital Management increased its Monster Beverage holdings by 93% in the third quarter, ending with 96,832 shares valued at approximately $4.03 million. Institutional investors collectively own 72.36% of the company.
• Analyst sentiment remains positive, with one Strong Buy, 15 Buy and eight Hold ratings; Monster Beverage has an overall “Moderate Buy” consensus rating.
• Monster Beverage reported quarterly EPS of $0.60, topping estimates by $0.02, while revenue rose 20.2% year over year to $2.50 billion. Shares opened at $46.19, down 2.3%.

Sterling Capital Management LLC boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 93.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,832 shares of the company's stock after purchasing an additional 46,670 shares during the quarter. Sterling Capital Management LLC's holdings in Monster Beverage were worth $4,030,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Monster Beverage during the second quarter worth approximately $5,770,004,000. Ninety One UK Ltd boosted its position in shares of Monster Beverage by 89.1% in the third quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company's stock valued at $545,444,000 after acquiring an additional 6,175,047 shares during the period. Bank of America Corp DE boosted its position in shares of Monster Beverage by 0.8% in the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company's stock valued at $908,102,000 after acquiring an additional 99,168 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of 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 acquiring an additional 1,461,167 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of 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 acquiring an additional 1,624,416 shares during the last quarter. Institutional investors own 72.36% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MNST. Zacks Research raised shares of Monster Beverage from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. Morgan Stanley increased their price target on shares of Monster Beverage from $103.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Citigroup restated a "buy" rating on shares of Monster Beverage in a research report on Thursday. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a report on Monday, August 10th. Finally, The Goldman Sachs Group boosted their price objective on shares of Monster Beverage from $106.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.05.

Monster Beverage Trading Down 2.3%

Shares of NASDAQ:MNST opened at $46.19 on Friday. The firm has a market capitalization of $90.49 billion, a PE ratio of 42.77, a PEG ratio of 2.87 and a beta of 0.49. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The business's 50 day moving average is $44.77 and its 200-day moving average is $44.47.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the company posted $0.26 earnings per share. Monster Beverage's revenue was up 20.2% on a year-over-year basis. On average, sell-side analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current year.

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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