State of Alaska Department of Revenue Acquires 65,514 Shares of Monster Beverage Corporation $MNST

Key Points

• State of Alaska Department of Revenue nearly doubled its Monster Beverage stake in the third quarter, adding 65,514 shares to own 135,468 shares valued at approximately $5.64 million. Institutional investors collectively own 72.36% of MNST.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $74.07, despite some analysts recently lowering their targets.
• Monster Beverage reported quarterly EPS of $0.60 versus the $0.58 estimate and revenue of $2.50 billion, up 20.2% year over year. Shares recently traded at $45.73, within a 52-week range of $32.94 to $50.17.

State of Alaska Department of Revenue lifted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 93.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 135,468 shares of the company's stock after buying an additional 65,514 shares during the period. State of Alaska Department of Revenue's holdings in Monster Beverage were worth $5,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Ninety One North America Inc. grew its position in Monster Beverage by 87.7% in the 3rd quarter. Ninety One North America Inc. now owns 855,485 shares of the company's stock worth $35,605,000 after purchasing an additional 399,636 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in shares of Monster Beverage by 149.5% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 12,420 shares of the company's stock valued at $517,000 after buying an additional 7,443 shares during the last quarter. WealthPlan Investment Management LLC boosted its position in shares of Monster Beverage by 118.1% during the third quarter. WealthPlan Investment Management LLC now owns 11,239 shares of the company's stock worth $468,000 after buying an additional 6,085 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Monster Beverage by 50.4% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,544,157 shares of the company's stock worth $64,268,000 after buying an additional 517,216 shares during the period. Finally, William Allan Corp boosted its position in shares of Monster Beverage by 99.8% during the third quarter. William Allan Corp now owns 71,822 shares of the company's stock worth $2,989,000 after buying an additional 35,875 shares during the period. Institutional investors own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Monster Beverage from $106.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Jefferies Financial Group cut their price objective on shares of Monster Beverage from $108.00 to $54.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. Wells Fargo & Company reduced their price objective on shares of Monster Beverage from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Monday, October 5th. BNP Paribas Exane reiterated a "neutral" rating and issued a $98.00 target price (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Finally, Morgan Stanley raised their target price on shares of Monster Beverage from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. One equities research 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 company's stock. According to MarketBeat, Monster Beverage has a consensus rating of "Moderate Buy" and a consensus price target of $74.07.

Monster Beverage Price Performance

Shares of MNST traded up $0.39 during trading hours on Friday, hitting $45.73. 12,345,237 shares of the company were exchanged, compared to its average volume of 10,027,700. The company has a market capitalization of $89.59 billion, a PE ratio of 42.34, a PEG ratio of 2.81 and a beta of 0.49. The firm has a fifty day simple moving average of $44.70 and a 200-day simple moving average of $44.10. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion for 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%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. Sell-side analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current year.

Monster Beverage 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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