Western Financial Corp CA Purchases 100,690 Shares of Monster Beverage Corporation $MNST

Key Points

• Western Financial Corp CA increased its Monster Beverage position by 680.3% in the third quarter, adding 100,690 shares for a total of 115,490 shares valued at approximately $4.8 million.
• Institutional investors and hedge funds collectively own 72.36% of Monster Beverage, with several firms also raising their stakes during the quarter.
• Monster Beverage reported quarterly revenue of $2.50 billion and EPS of $0.60, beating analyst expectations, while analysts maintain a consensus “Moderate Buy” rating with a target price of $74.07.

Western Financial Corp CA lifted its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 680.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 115,490 shares of the company's stock after acquiring an additional 100,690 shares during the quarter. Monster Beverage makes up about 1.6% of Western Financial Corp CA's holdings, making the stock its 14th biggest holding. Western Financial Corp CA's holdings in Monster Beverage were worth $4,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triumph Capital Management grew its holdings in shares of Monster Beverage by 100.5% during the third quarter. Triumph Capital Management now owns 1,201 shares of the company's stock valued at $50,000 after buying an additional 602 shares in the last quarter. Lodestone Wealth Management LLC raised its position in Monster Beverage by 100.0% during the third quarter. Lodestone Wealth Management LLC now owns 1,446 shares of the company's stock valued at $60,000 after buying an additional 723 shares during the period. First Citizens Bank & Trust Co. raised its position in Monster Beverage by 399.2% during the third quarter. First Citizens Bank & Trust Co. now owns 33,613 shares of the company's stock valued at $1,399,000 after buying an additional 26,880 shares during the period. Signal Advisors Wealth LLC raised its position in Monster Beverage by 148.2% during the third quarter. Signal Advisors Wealth LLC now owns 53,095 shares of the company's stock valued at $2,210,000 after buying an additional 31,702 shares during the period. Finally, Ifrah Financial Services Inc. lifted its stake in Monster Beverage by 528.2% in the 3rd quarter. Ifrah Financial Services Inc. now owns 22,225 shares of the company's stock worth $925,000 after acquiring an additional 18,687 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price objective on Monster Beverage from $45.00 to $52.50 and gave the stock a "buy" rating in a research report on Thursday, July 16th. The Goldman Sachs Group lifted their target price on Monster Beverage from $106.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, August 7th. UBS Group upped their target price on Monster Beverage from $52.00 to $52.50 and gave the company a "neutral" rating in a report on Friday, August 7th. Sanford C. Bernstein reduced their price target on shares of Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. Finally, Citigroup reissued a "buy" rating on shares of Monster Beverage in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Monster Beverage currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.07.

Monster Beverage Price Performance

NASDAQ:MNST traded up $0.91 during mid-day trading on Wednesday, reaching $44.22. The stock had a trading volume of 11,194,313 shares, compared to its average volume of 11,203,148. The business's 50 day moving average is $44.72 and its 200 day moving average is $44.02. Monster Beverage Corporation has a fifty-two week low of $32.94 and a fifty-two week high of $50.17. The stock has a market cap of $86.63 billion, a P/E ratio of 40.94, a PEG ratio of 2.71 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) 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 firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the previous year, the company earned $0.26 earnings per share. The company's revenue was up 20.2% compared to the same quarter last year. Equities analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current year.

About Monster Beverage

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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