Monster Beverage Corporation $MNST Stock: Carderock Capital Management Inc. Boosts Position

Key Points

• Carderock Capital Management nearly doubled its Monster Beverage stake in the third quarter, adding 122,539 shares to own 246,880 shares valued at approximately $10.3 million. Institutional investors collectively own 72.36% of MNST.
• Monster Beverage shares were trading at $46.19, down 2.3%, with a market capitalization of $90.49 billion and a P/E ratio of 42.77.
• The company exceeded quarterly expectations, reporting $0.60 in EPS and $2.50 billion in revenue, up 20.2% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $74.05.

Carderock Capital Management Inc. grew its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 98.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 246,880 shares of the company's stock after acquiring an additional 122,539 shares during the quarter. Monster Beverage comprises approximately 2.5% of Carderock Capital Management Inc.'s portfolio, making the stock its 14th biggest position. Carderock Capital Management Inc.'s holdings in Monster Beverage were worth $10,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MNST. Oxbow Advisors LLC boosted its position in shares of Monster Beverage by 70.7% during the first quarter. Oxbow Advisors LLC now owns 85,814 shares of the company's stock valued at $6,218,000 after buying an additional 35,528 shares during the last quarter. Whittier Trust Co. raised its position in Monster Beverage by 2,304.9% in the 1st quarter. Whittier Trust Co. now owns 231,852 shares of the company's stock worth $17,194,000 after buying an additional 222,211 shares during the last quarter. Swedbank AB raised its position in Monster Beverage by 19.6% in the 1st quarter. Swedbank AB now owns 472,529 shares of the company's stock worth $34,239,000 after buying an additional 77,485 shares during the last quarter. OP Asset Management Ltd bought a new position in Monster Beverage during the 1st quarter valued at about $5,314,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Monster Beverage by 9,515.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 95,576 shares of the company's stock valued at $7,088,000 after acquiring an additional 94,582 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Down 2.3%

Shares of NASDAQ MNST opened at $46.19 on Friday. Monster Beverage Corporation has a 12-month low of $32.94 and a 12-month high of $50.17. The firm has a market capitalization of $90.49 billion, a price-to-earnings ratio of 42.77, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49. The firm has a 50 day moving average of $44.77 and a 200 day moving average of $44.47.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company's revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS. Sell-side analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MNST shares. Evercore lowered their price objective on shares of Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. Weiss Ratings downgraded shares of Monster Beverage from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $98.00 target price (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Wells Fargo & Company decreased their target price on shares of Monster Beverage from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. Finally, UBS Group increased their price target on Monster Beverage from $52.00 to $52.50 and gave the company 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 issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.05.

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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