VCI Wealth Management LLC Buys New Stake in Monster Beverage Corporation $MNST

Key Points

• VCI Wealth Management acquired 40,768 Monster Beverage shares in the third quarter, valued at approximately $1.7 million. Institutional investors collectively own 72.36% of MNST.
• Monster Beverage shares opened at $48.02, up 1.4%, near their 52-week high of $50.17. The company recently exceeded quarterly earnings and revenue expectations, with revenue rising 20.2% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $71.86, although several firms recently lowered their targets or kept neutral and hold ratings.

VCI Wealth Management LLC acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 40,768 shares of the company's stock, valued at approximately $1,697,000.

A number of other institutional investors have also recently added to or reduced their stakes in MNST. BlackRock Inc. bought a new stake in Monster Beverage in the second quarter valued at $5,770,004,000. Ninety One UK Ltd grew its position in shares of Monster Beverage by 89.1% during the third quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company's stock worth $545,444,000 after acquiring an additional 6,175,047 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Monster Beverage by 0.8% in the 1st quarter. Bank of America Corp DE now owns 12,532,462 shares of the company's stock worth $908,102,000 after acquiring an additional 99,168 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Monster Beverage by 23.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company's stock worth $553,414,000 after acquiring an additional 1,461,167 shares during the period. Finally, Wellington Management Group LLP lifted its position in Monster Beverage by 27.8% in the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company's stock valued at $717,629,000 after purchasing an additional 1,624,416 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Up 1.4%

Shares of MNST opened at $48.02 on Tuesday. The firm has a market capitalization of $94.07 billion, a PE ratio of 44.46, a P/E/G ratio of 2.88 and a beta of 0.49. The firm has a 50-day moving average price of $44.76 and a 200 day moving average price of $43.14. Monster Beverage Corporation has a 52-week low of $32.94 and a 52-week high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. Monster Beverage's revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. On average, equities analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore reduced their target price on shares of Monster Beverage from $95.00 to $52.00 in a research note on Thursday, October 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. JPMorgan Chase & Co. cut their price target on Monster Beverage from $49.50 to $49.00 and set a "neutral" rating on the stock in a report on Monday, October 26th. BNP Paribas Exane reiterated a "neutral" rating and set a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $71.86.

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.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.