Monster Beverage Corporation $MNST Stock Bought by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. nearly doubled its Monster Beverage stake in the third quarter, adding 145,749 shares to own 295,807 shares worth approximately $12.3 million.
• Institutional ownership remains substantial, with hedge funds and other institutional investors holding 72.36% of MNST shares; several major firms established new positions during the second quarter.
• Monster Beverage reported quarterly revenue of $2.50 billion and EPS of $0.60, exceeding analyst estimates, while analysts maintain a “Moderate Buy” consensus with a $50.10 average price target.

Congress Asset Management Co. grew its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 97.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 295,807 shares of the company's stock after acquiring an additional 145,749 shares during the quarter. Congress Asset Management Co.'s holdings in Monster Beverage were worth $12,311,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MNST. BlackRock Inc. acquired a new stake in shares of Monster Beverage during the second quarter worth about $5,770,004,000. Bank of America Corp DE acquired a new position in Monster Beverage in the 2nd quarter valued at about $1,195,360,000. Jupiter Topco LLC acquired a new position in Monster Beverage in the 2nd quarter valued at about $593,075,000. Legal & General Group Plc purchased a new stake in Monster Beverage during the 2nd quarter valued at approximately $478,694,000. Finally, Bank of New York Mellon Corp purchased a new stake in Monster Beverage during the 2nd quarter valued at approximately $440,838,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Monster Beverage stock opened at $43.25 on Wednesday. The stock's 50 day moving average price is $45.23 and its 200 day moving average price is $43.73. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The company has a market cap of $84.73 billion, a PE ratio of 40.05, a price-to-earnings-growth ratio of 2.84 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the prior year, the business posted $0.26 earnings per share. Monster Beverage's revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts anticipate that Monster Beverage Corporation will post 1.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of recent research reports. Piper Sandler increased their price objective on Monster Beverage from $47.00 to $50.50 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $100.00 target price on shares of Monster Beverage in a report on Monday, August 10th. BMO Capital Markets reaffirmed a "market perform" rating and set a $47.50 price target (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. Finally, Sanford C. Bernstein initiated coverage on shares of Monster Beverage in a research note on Friday, June 12th. They issued a "market perform" rating and a $47.50 price objective on the stock. Thirteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.10.

Monster Beverage Profile

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company's portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.

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