Monster Beverage Corporation $MNST Stock Purchased by Sigma Planning Corp

Key Points

• Sigma Planning Corp increased its Monster Beverage holdings by 331.9% in the third quarter, adding 27,516 shares to own 35,807 shares valued at approximately $1.49 million.
• Institutional investors hold 72.36% of Monster Beverage’s stock, with major firms including BlackRock, Ninety One UK, Bank of America, Arrowstreet Capital and Wellington Management expanding or initiating positions.
• Monster Beverage recently exceeded quarterly earnings and revenue expectations, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $71.86.

Sigma Planning Corp boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 331.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,807 shares of the company's stock after purchasing an additional 27,516 shares during the period. Sigma Planning Corp's holdings in Monster Beverage were worth $1,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Monster Beverage during the 2nd quarter valued at about $5,770,004,000. Ninety One UK Ltd lifted its holdings in shares of Monster Beverage by 89.1% in the 3rd quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company's stock valued at $545,444,000 after buying an additional 6,175,047 shares during the period. Bank of America Corp DE lifted its holdings 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 valued at $908,102,000 after buying an additional 99,168 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Monster Beverage by 23.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company's stock worth $553,414,000 after buying an additional 1,461,167 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Monster Beverage by 27.8% in the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company's stock worth $717,629,000 after buying an additional 1,624,416 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $45.66 on Thursday. The business's 50 day moving average price is $44.78 and its 200-day moving average price is $43.01. Monster Beverage Corporation has a 1 year low of $32.94 and a 1 year high of $50.17. The firm has a market capitalization of $89.45 billion, a PE ratio of 42.28, a P/E/G ratio of 2.91 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $0.26 EPS. The firm'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 1.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on MNST shares. TD Cowen raised their target price on Monster Beverage from $45.00 to $47.50 and gave the stock a "hold" rating in a report on Wednesday, July 8th. Weiss Ratings downgraded Monster Beverage from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, October 19th. BNP Paribas Exane reissued a "neutral" rating and issued a $98.00 price target (up from $84.00) on shares of Monster Beverage in a report on Monday, September 28th. Piper Sandler restated an "overweight" rating and issued a $50.50 price objective on shares of Monster Beverage in a research report on Monday, October 19th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.86.

Monster Beverage 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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