Monster Beverage Corporation $MNST Stock: Bank Julius Baer & Co. Ltd Zurich Raises Position

Key Points

• Bank Julius Baer sharply increased its Monster Beverage position by 1,528.6% in the third quarter, ending with 209,034 shares valued at approximately $8.7 million. Institutional investors and hedge funds collectively own 72.36% of MNST.
• Monster Beverage reported stronger-than-expected quarterly results, with EPS of $0.60 and revenue of $2.50 billion; revenue rose 20.2% year over year and exceeded analyst estimates.
• MNST shares opened at $48.02, near their 52-week high of $50.17. Analysts maintain a generally positive outlook, with a MarketBeat consensus rating of “Moderate Buy” and an average target price of $71.86.

Bank Julius Baer & Co. Ltd Zurich grew its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1,528.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,034 shares of the company's stock after purchasing an additional 196,199 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Monster Beverage were worth $8,725,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in shares of Monster Beverage during the 2nd quarter valued at about $27,000. Jones Financial Companies Lllp bought a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $28,000. Trust Co. of Vermont acquired a new position in Monster Beverage in the second quarter worth approximately $30,000. NBH Bank acquired a new position in Monster Beverage in the second quarter worth approximately $32,000. Finally, Clearstead Trust LLC acquired a new position in Monster Beverage in the second quarter worth approximately $32,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

MNST opened at $48.02 on Tuesday. The company has a market cap of $94.07 billion, a PE ratio of 44.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.49. The stock has a 50-day moving average of $44.76 and a 200-day moving average of $43.14. Monster Beverage Corporation has a 52-week low of $32.94 and a 52-week high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. On average, research analysts predict that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MNST shares. Wells Fargo & Company reiterated an "overweight" rating and issued a $50.00 target price (up from $48.00) on shares of Monster Beverage in a research note on Monday, October 26th. JPMorgan Chase & Co. decreased their target price on shares of Monster Beverage from $49.50 to $49.00 and set a "neutral" rating for the company in a research report on Monday, October 26th. Evercore dropped their price target on shares of Monster Beverage from $95.00 to $52.00 in a research note on Thursday, October 8th. Stifel Nicolaus set a $52.00 price target on shares of Monster Beverage in a research note on Thursday, October 22nd. Finally, Piper Sandler restated an "overweight" rating and set a $50.50 price target on shares of Monster Beverage in a report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $71.86.

Monster Beverage 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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