Monster Beverage Corporation $MNST Stock: Ninety One North America Inc. Boosts Position

Key Points

• Ninety One North America increased its Monster Beverage stake by 87.7% in the third quarter, adding 399,636 shares to own 855,485 shares valued at approximately $35.6 million. Institutional investors collectively own 72.36% of MNST.
• Monster Beverage reported quarterly EPS of $0.60, exceeding estimates of $0.58, while revenue reached $2.50 billion and grew 20.2% year over year.
• MNST shares rose 1.9% to $45.07, while analysts maintained a “Moderate Buy” consensus with an average price target of $74.07, despite several recent target-price reductions.

Ninety One North America Inc. lifted its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 87.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 855,485 shares of the company's stock after acquiring an additional 399,636 shares during the period. Monster Beverage accounts for about 1.8% of Ninety One North America Inc.'s investment portfolio, making the stock its 20th largest holding. Ninety One North America Inc.'s holdings in Monster Beverage were worth $35,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MNST. BlackRock Inc. bought a new stake in shares of Monster Beverage during the 2nd quarter valued at $5,770,004,000. Bank of America Corp DE grew its position in shares of Monster Beverage by 0.8% in the 1st quarter. Bank of America Corp DE now owns 12,532,462 shares of the company's stock worth $908,102,000 after buying an additional 99,168 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Monster Beverage by 23.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company's stock worth $553,414,000 after acquiring an additional 1,461,167 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Monster Beverage by 27.8% in the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company's stock worth $717,629,000 after acquiring an additional 1,624,416 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new position in Monster Beverage during the 2nd quarter valued at about $593,075,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Stock Up 1.9%

Shares of NASDAQ MNST traded up $0.85 during trading on Thursday, reaching $45.07. The company had a trading volume of 4,829,477 shares, compared to its average volume of 11,169,418. Monster Beverage Corporation has a 12-month low of $32.94 and a 12-month high of $50.17. The business's 50-day moving average is $44.72 and its 200 day moving average is $44.02. The stock has a market cap of $88.29 billion, a PE ratio of 41.71, a P/E/G ratio of 2.69 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. Monster Beverage's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. On average, analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MNST shares. JPMorgan Chase & Co. boosted their price objective on shares of Monster Beverage from $83.00 to $99.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. Piper Sandler upped their price objective on shares of Monster Beverage from $47.00 to $50.50 and gave the stock an "overweight" rating in a report on Friday, August 7th. 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. Evercore lowered their target price on shares of Monster Beverage from $95.00 to $52.00 in a report on Thursday, October 8th. Finally, Sanford C. Bernstein lowered their target price on shares of Monster Beverage from $95.00 to $50.00 in a report on Sunday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.07.

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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