Monster Beverage Corporation $MNST Stock Purchased by Third View Private Wealth LLC

Key Points

• Third View Private Wealth nearly doubled its Monster Beverage stake in the third quarter, adding 109,714 shares to hold 219,535 shares valued at about $9.1 million. Other institutions also increased positions, and institutional investors own 72.36% of the stock.
• Analyst sentiment is Moderate Buy, with one Strong Buy, 15 Buy, and eight Hold ratings; the consensus price target is $71.86. Several firms cut their targets, while Zacks Research upgraded the stock to Strong Buy.
• Monster Beverage beat quarterly earnings and revenue estimates, reporting EPS of $0.60 and revenue of $2.50 billion; revenue rose 20.2% year over year.

Third View Private Wealth LLC increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 99.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 219,535 shares of the company's stock after purchasing an additional 109,714 shares during the period. Monster Beverage accounts for about 1.1% of Third View Private Wealth LLC's holdings, making the stock its 20th biggest holding. Third View Private Wealth LLC's holdings in Monster Beverage were worth $9,137,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Provenance Wealth Advisors LLC grew its position in Monster Beverage by 20,010.1% in the third quarter. Provenance Wealth Advisors LLC now owns 19,909 shares of the company's stock worth $829,000 after acquiring an additional 19,810 shares during the period. Integrity Alliance LLC. acquired a new stake in shares of Monster Beverage during the 3rd quarter worth about $239,000. Oregon Public Employees Retirement Fund increased its position in shares of Monster Beverage by 100.3% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 175,804 shares of the company's stock worth $7,317,000 after purchasing an additional 88,012 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super raised its holdings in Monster Beverage by 100.0% in the 3rd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 857,164 shares of the company's stock valued at $35,675,000 after buying an additional 428,582 shares during the period. Finally, VCI Wealth Management LLC purchased a new stake in Monster Beverage in the 3rd quarter valued at about $1,697,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Zacks Research raised shares of Monster Beverage from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. Sanford C. Bernstein dropped their price target on shares of Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. Evercore dropped their price target on shares of Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Finally, Jefferies Financial Group decreased their price objective on shares of Monster Beverage from $108.00 to $54.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Monster Beverage presently has an average rating of "Moderate Buy" and a consensus target price of $71.86.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $47.18 on Wednesday. The business has a 50-day moving average of $44.73 and a 200 day moving average of $43.18. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17. The stock has a market capitalization of $92.43 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 3.02 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. Equities research analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Monster Beverage Company 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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