Monster Beverage Corporation $MNST Stock: Vontobel Holding Ltd. Boosts Holdings

Key Points

• Vontobel Holding nearly doubled its Monster Beverage stake in the third quarter, adding 72,173 shares to own 146,109 shares valued at approximately $6.1 million. Institutional investors collectively own 72.36% of MNST.
• Monster Beverage reported strong quarterly results, with EPS of $0.60 beating estimates and revenue rising 20.2% year over year to $2.50 billion.
• Analyst sentiment remains favorable, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $74.07, despite wide-ranging target-price revisions.

Vontobel Holding Ltd. raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 97.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,109 shares of the company's stock after buying an additional 72,173 shares during the quarter. Vontobel Holding Ltd.'s holdings in Monster Beverage were worth $6,081,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Mosley Wealth Management raised its holdings in shares of Monster Beverage by 43.7% during the third quarter. Mosley Wealth Management now owns 1,134 shares of the company's stock valued at $51,000 after acquiring an additional 345 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of Monster Beverage by 37.1% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 64,680 shares of the company's stock valued at $2,728,000 after acquiring an additional 17,486 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new position in Monster Beverage in the 3rd quarter worth approximately $1,907,000. Pension & Wealth Management Advisors Inc. acquired a new position in Monster Beverage in the 3rd quarter worth approximately $36,000. Finally, Howard Capital Management LLC boosted its stake in Monster Beverage by 99.6% in the 3rd quarter. Howard Capital Management LLC now owns 42,574 shares of the company's stock worth $1,772,000 after purchasing an additional 21,241 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of MNST opened at $45.73 on Friday. The company has a market capitalization of $89.59 billion, a price-to-earnings ratio of 42.34, a P/E/G ratio of 2.84 and a beta of 0.49. Monster Beverage Corporation has a fifty-two week low of $32.94 and a fifty-two week high of $50.17. The business's 50-day moving average is $44.70 and its 200-day moving average is $44.10.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.60 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 during the quarter, compared to analysts' expectations of $2.43 billion. During the same period last year, the company posted $0.26 earnings per share. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts expect that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on MNST. Evercore lowered their price objective on shares of Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. BMO Capital Markets restated a "market perform" rating and issued a $47.50 target price (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Piper Sandler increased their target price on Monster Beverage from $47.00 to $50.50 and gave the company an "overweight" rating in a report on Friday, August 7th. TD Cowen raised their target price on Monster Beverage from $45.00 to $47.50 and gave the stock a "hold" rating in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $48.50 target price (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Monster Beverage presently has an average rating of "Moderate Buy" and a consensus price target of $74.07.

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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