Monster Beverage Corporation $MNST Stock Purchased by Signal Advisors Wealth LLC

Key Points

• Signal Advisors Wealth LLC increased its Monster Beverage position by 148.2% in the third quarter, holding 53,095 shares valued at approximately $2.21 million.
• Institutional investors own 72.36% of Monster Beverage, with major new stakes reported by BlackRock, Bank of America, Jupiter Topco, Legal & General, and Bank of New York Mellon.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $74.07; Monster most recently beat earnings and revenue estimates, reporting $0.60 EPS and $2.50 billion in quarterly revenue.

Signal Advisors Wealth LLC boosted its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 148.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,095 shares of the company's stock after purchasing an additional 31,702 shares during the period. Signal Advisors Wealth LLC's holdings in Monster Beverage were worth $2,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Monster Beverage in the second quarter worth about $5,770,004,000. Bank of America Corp DE purchased a new position in shares of Monster Beverage during the second quarter valued at approximately $1,195,360,000. Jupiter Topco LLC bought a new position in shares of Monster Beverage during the second quarter valued at approximately $593,075,000. Legal & General Group Plc bought a new position in shares of Monster Beverage during the second quarter valued at approximately $478,694,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Monster Beverage during the second quarter valued at approximately $440,838,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Monster Beverage from $106.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Weiss Ratings upgraded Monster Beverage from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, September 8th. BMO Capital Markets restated a "market perform" rating and set a $47.50 price objective (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Evercore cut their price objective on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. Finally, Stifel Nicolaus increased their target price on Monster Beverage from $45.00 to $52.50 and gave the stock a "buy" rating in a research note on Thursday, July 16th. One 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $74.07.

Monster Beverage Stock Up 2.1%

Shares of NASDAQ:MNST opened at $44.22 on Thursday. 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 $86.63 billion, a P/E ratio of 40.94, a price-to-earnings-growth ratio of 2.69 and a beta of 0.49. Monster Beverage Corporation has a 52-week low of $32.94 and a 52-week high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results 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. The business 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 revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. On average, sell-side analysts anticipate that Monster Beverage Corporation will post 1.16 EPS 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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