Rakuten Investment Management Inc. Acquires 233,428 Shares of Monster Beverage Corporation $MNST

Rakuten Investment Management Inc. boosted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 121.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 425,588 shares of the company's stock after buying an additional 233,428 shares during the quarter. Rakuten Investment Management Inc.'s holdings in Monster Beverage were worth $17,764,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. AIA Group Ltd increased its stake in shares of Monster Beverage by 102.1% in the 3rd quarter. AIA Group Ltd now owns 209,250 shares of the company's stock valued at $8,709,000 after acquiring an additional 105,713 shares in the last quarter. Third View Private Wealth LLC lifted its position in shares of Monster Beverage by 99.9% during the 3rd quarter. Third View Private Wealth LLC now owns 219,535 shares of the company's stock valued at $9,137,000 after acquiring an additional 109,714 shares during the period. Provenance Wealth Advisors LLC boosted its stake in Monster Beverage by 20,010.1% during 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 in the last quarter. Integrity Alliance LLC. bought a new position in Monster Beverage during the third quarter worth $239,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in Monster Beverage by 100.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 175,804 shares of the company's stock worth $7,317,000 after acquiring an additional 88,012 shares in the last quarter. Institutional investors own 72.36% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Monster Beverage from $45.00 to $47.50 and gave the company a "hold" rating in a research note on Wednesday, July 8th. UBS Group increased their price objective on shares of Monster Beverage from $52.00 to $52.50 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Monster Beverage from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. Piper Sandler restated an "overweight" rating and issued a $50.50 target price on shares of Monster Beverage in a research note on Monday, October 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $100.00 target price (up from $98.00) on shares of Monster Beverage in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $71.86.

Monster Beverage Trading Up 3.3%

Shares of NASDAQ:MNST opened at $48.75 on Thursday. The stock's fifty day simple moving average is $44.73 and its two-hundred day simple moving average is $43.23. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The stock has a market cap of $95.50 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 2.97 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly 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. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm earned $0.26 earnings per share. The firm's revenue was up 20.2% on a year-over-year basis. On average, sell-side analysts forecast that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

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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