Monster Beverage Corporation $MNST Stock Holdings Increased by Harrell Investment Partners LLC

Key Points

• Harrell Investment Partners nearly doubled its Monster Beverage stake in the third quarter, increasing holdings by 99% to 66,058 shares valued at approximately $2.75 million. Institutional investors collectively own 72.36% of MNST.
• Analysts maintain a generally positive outlook, with one Strong Buy, fifteen Buy, and eight Hold ratings; MarketBeat reports an overall “Moderate Buy” consensus and an average price target of $74.07.
• Monster Beverage reported stronger-than-expected quarterly results, including $0.60 in EPS versus $0.58 expected and $2.50 billion in revenue versus $2.43 billion expected. Revenue increased 20.2% year over year, while the stock recently traded near $45.34.

Harrell Investment Partners LLC lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 99.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 66,058 shares of the company's stock after buying an additional 32,868 shares during the quarter. Harrell Investment Partners LLC's holdings in Monster Beverage were worth $2,749,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC boosted its position in shares of Monster Beverage by 113.4% in the third quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock valued at $25,000 after acquiring an additional 321 shares during the period. Davis Capital Management increased its position in Monster Beverage by 98.8% during the third quarter. Davis Capital Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 316 shares during the period. Johnson Financial Group Inc. bought a new position in Monster Beverage during the second quarter worth about $27,000. Jones Financial Companies Lllp bought a new position in Monster Beverage during the second quarter worth about $28,000. Finally, MV Capital Management Inc. acquired a new stake in Monster Beverage in the 4th quarter worth about $30,000. Institutional investors own 72.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MNST shares. BMO Capital Markets reiterated a "market perform" rating and issued a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. UBS Group increased their price target on Monster Beverage from $52.00 to $52.50 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Zacks Research upgraded Monster Beverage from a "hold" rating to a "strong-buy" rating in a research note on Monday. Wells Fargo & Company lowered their price objective on Monster Beverage from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Monday, October 5th. Finally, Evercore cut their target price on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.07.

Monster Beverage Price Performance

Shares of MNST opened at $45.34 on Friday. The firm has a 50 day simple moving average of $44.69 and a two-hundred day simple moving average of $44.09. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17. The company has a market cap of $88.82 billion, a P/E ratio of 41.98, a P/E/G ratio of 2.74 and a beta of 0.49.

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, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The business's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, analysts expect that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Monster Beverage Company 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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