Monster Beverage Corporation $MNST Stock: Crossmark Global Holdings Inc. Boosts Holdings

Key Points

• Crossmark Global Holdings increased its Monster Beverage stake by 341.4% in the third quarter, bringing its holdings to 247,444 shares valued at approximately $10.3 million. Institutional investors and hedge funds collectively own 72.36% of MNST.
• Analysts maintain a consensus “Moderate Buy” rating, with one Strong Buy, 15 Buy and eight Hold ratings; the average price target is $74.05.
• Monster Beverage reported quarterly earnings of $0.60 per share, exceeding estimates of $0.58, while revenue rose 20.2% year over year to $2.50 billion. Shares opened at $47.33, compared with a 52-week range of $32.94 to $50.17.

Crossmark Global Holdings Inc. lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 341.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,444 shares of the company's stock after purchasing an additional 191,379 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Monster Beverage were worth $10,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MNST. CI Investments Inc. boosted its position in Monster Beverage by 3.5% in the first quarter. CI Investments Inc. now owns 3,497 shares of the company's stock valued at $253,000 after buying an additional 119 shares in the last quarter. Root Financial Partners LLC grew its stake in shares of Monster Beverage by 2.8% during the first quarter. Root Financial Partners LLC now owns 4,981 shares of the company's stock worth $361,000 after buying an additional 137 shares during the last quarter. Wealth Alliance LLC grew its stake in shares of Monster Beverage by 2.2% during the first quarter. Wealth Alliance LLC now owns 6,752 shares of the company's stock worth $489,000 after buying an additional 148 shares during the last quarter. CX Institutional increased its holdings in shares of Monster Beverage by 2.4% during the second quarter. CX Institutional now owns 6,384 shares of the company's stock worth $614,000 after buying an additional 148 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Monster Beverage by 1.0% during the first quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company's stock worth $1,275,000 after buying an additional 175 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MNST. TD Cowen increased their price target on Monster Beverage from $45.00 to $47.50 and gave the company a "hold" rating in a research note on Wednesday, July 8th. 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 research report on Monday, August 10th. BNP Paribas Exane reiterated 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. Evercore cut their price target on Monster Beverage from $95.00 to $52.00 in a research note on Thursday, October 8th. Finally, Zacks Research upgraded Monster Beverage from a "hold" rating to a "strong-buy" rating in a report on Monday, October 12th. 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.05.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $47.33 on Friday. The firm has a market cap of $92.72 billion, a PE ratio of 43.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.49. The firm's fifty day moving average is $44.78 and its 200-day moving average is $44.46. 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 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The company 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%. Monster Beverage's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Sell-side analysts forecast 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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