Monster Beverage Corporation $MNST Stock Purchased by CoreCap Advisors LLC

Key Points

• CoreCap Advisors increased its Monster Beverage position by 79.3% in the third quarter, acquiring 26,432 additional shares for a total holding of 59,770 shares valued at approximately $2.49 million.
• Institutional investors own 72.36% of Monster Beverage, while analysts maintain a “Moderate Buy” consensus with an average price target of $74.07; 15 analysts rate the stock a Buy and nine rate it a Hold.
• Monster Beverage exceeded quarterly expectations, reporting $0.60 in EPS and $2.50 billion in revenue, with revenue rising 20.2% year over year. The stock opened at $43.64, compared with a 52-week range of $32.94 to $50.17.

CoreCap Advisors LLC grew its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 79.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,770 shares of the company's stock after purchasing an additional 26,432 shares during the quarter. CoreCap Advisors LLC's holdings in Monster Beverage were worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Retirement Wealth Solutions LLC grew its holdings in Monster Beverage by 113.4% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock valued at $25,000 after buying an additional 321 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Monster Beverage in the 2nd quarter valued at $27,000. Jones Financial Companies Lllp bought a new position in shares of Monster Beverage during the 2nd quarter valued at approximately $28,000. MV Capital Management Inc. bought a new position in shares of Monster Beverage during the 4th quarter valued at approximately $30,000. Finally, Trust Co. of Vermont bought a new stake in Monster Beverage in the second quarter worth $30,000. Institutional investors own 72.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MNST shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. BNP Paribas Exane reiterated a "neutral" rating and set a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Weiss Ratings raised shares of Monster Beverage from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, September 8th. Evercore lowered their target price on shares of Monster Beverage from $95.00 to $52.00 in a report on Thursday. Finally, The Goldman Sachs Group lifted their price target on shares of Monster Beverage from $106.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Monster Beverage has an average rating of "Moderate Buy" and a consensus target price of $74.07.

Monster Beverage Stock Down 0.0%

NASDAQ:MNST opened at $43.64 on Friday. Monster Beverage Corporation has a 52 week low of $32.94 and a 52 week high of $50.17. The firm has a 50 day moving average of $44.92 and a 200 day moving average of $43.82. The stock has a market capitalization of $85.49 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 2.85 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released 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. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $0.26 earnings per share. The business's revenue for the quarter was up 20.2% on a year-over-year basis. As a group, analysts expect that Monster Beverage Corporation will post 1.11 EPS for the current year.

About Monster Beverage

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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