Monster Beverage Corporation $MNST Stock Purchased by Bright Rock Capital Management LLC

Key Points

• Bright Rock Capital Management doubled its Monster Beverage holdings in the third quarter, acquiring 53,000 additional shares for a total of 106,000 shares valued at approximately $4.4 million.
• Monster Beverage reported quarterly EPS of $0.60, beating estimates by $0.02, while revenue rose 20.2% year over year to $2.50 billion. Institutional investors collectively own 72.36% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $50.10, compared with the stock’s reported price of $43.25.

Bright Rock Capital Management LLC raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 100.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,000 shares of the company's stock after acquiring an additional 53,000 shares during the quarter. Bright Rock Capital Management LLC's holdings in Monster Beverage were worth $4,412,000 at the end of the most recent quarter.

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

Monster Beverage Price Performance

NASDAQ MNST opened at $43.25 on Wednesday. The company's fifty day moving average is $45.23 and its two-hundred day moving average is $43.73. Monster Beverage Corporation has a 52-week low of $32.94 and a 52-week high of $50.17. The firm has a market capitalization of $84.73 billion, a price-to-earnings ratio of 40.05, a P/E/G ratio of 2.84 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. The business's revenue for the quarter was up 20.2% on a year-over-year basis. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the topic of several recent research reports. Sanford C. Bernstein assumed coverage on shares of Monster Beverage in a research report on Friday, June 12th. They set a "market perform" rating and a $47.50 price objective on the stock. BNP Paribas Exane reissued a "neutral" rating on shares of Monster Beverage in a research report on Monday, September 28th. Evercore increased their price target on shares of Monster Beverage from $47.50 to $52.50 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. Finally, UBS Group upped their price objective on shares of Monster Beverage from $52.00 to $52.50 and gave the stock a "neutral" rating in a report on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.10.

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.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.