Night Squared LP Buys Shares of 136,709 Monster Beverage Corporation $MNST

Key Points

• Night Squared LP bought a new position of 136,709 Monster shares (~$9.20M), making MNST about 3.3% of its portfolio and its third-largest holding.
• Monster beat the quarter — EPS $0.51 vs. $0.49 estimate and revenue $2.10B (up 17.6% YoY) — with a 27.38% ROE and a 22.97% net margin.
• Analysts have grown more bullish, with several firms raising price targets and the consensus rating at Moderate Buy and an average target of $84.14.

Night Squared LP bought a new position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 136,709 shares of the company's stock, valued at approximately $9,202,000. Monster Beverage comprises about 3.3% of Night Squared LP's investment portfolio, making the stock its 3rd largest position.

Other large investors also recently made changes to their positions in the company. Physician Wealth Advisors Inc. boosted its position in shares of Monster Beverage by 508.1% during the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company's stock worth $25,000 after buying an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in Monster Beverage in the 3rd quarter worth approximately $27,000. Newbridge Financial Services Group Inc. increased its position in Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company's stock valued at $28,000 after acquiring an additional 415 shares during the period. First Horizon Corp bought a new stake in Monster Beverage during the 3rd quarter valued at $29,000. Finally, Armstrong Advisory Group Inc. raised its stake in Monster Beverage by 49.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company's stock valued at $30,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Analysts Set New Price Targets

MNST has been the subject of several recent analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $96.00 price target (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. Weiss Ratings restated a "buy (b)" rating on shares of Monster Beverage in a research note on Monday, December 29th. BNP Paribas Exane raised shares of Monster Beverage from an "underperform" rating to a "neutral" rating and set a $77.00 price objective for the company in a report on Friday, January 16th. Wells Fargo & Company increased their target price on shares of Monster Beverage from $86.00 to $94.00 and gave the company an "overweight" rating in a research report on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Monster Beverage from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Monster Beverage currently has an average rating of "Moderate Buy" and a consensus target price of $84.14.

Monster Beverage Stock Performance

MNST opened at $77.11 on Friday. Monster Beverage Corporation has a one year low of $54.22 and a one year high of $87.38. The stock's fifty day moving average is $80.18 and its 200-day moving average is $73.36. The company has a market capitalization of $75.34 billion, a PE ratio of 39.75, a P/E/G ratio of 2.49 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. The business had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The company's quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. On average, equities research analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

About Monster Beverage

Monster Beverage Corporation NASDAQ: MNST is an American beverage company best known for its Monster Energy brand of energy drinks. The company's product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen's Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.

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