Zurcher Kantonalbank Zurich Cantonalbank Purchases 148,780 Shares of Monster Beverage Corporation $MNST

Key Points

• Zurcher Kantonalbank increased its stake in Monster Beverage by 42.1%, purchasing 148,780 shares to hold 502,257 shares worth about $38.51 million (roughly 0.05% of the company).
• Monster beat estimates with $0.51 EPS vs $0.49 expected and reported $2.10 billion in revenue (up 17.6% YoY); the stock has a market cap of ~$75.5 billion, a P/E of ~39.8, and a consensus rating of "Moderate Buy" with an $83 average price target.

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 42.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 502,257 shares of the company's stock after purchasing an additional 148,780 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Monster Beverage worth $38,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Exchange Traded Concepts LLC grew its stake in shares of Monster Beverage by 222.4% during the third quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company's stock worth $3,385,000 after purchasing an additional 34,697 shares during the period. Perigon Wealth Management LLC increased its holdings in Monster Beverage by 87.8% in the third quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company's stock valued at $2,163,000 after purchasing an additional 15,029 shares during the last quarter. ABN AMRO Bank N.V. acquired a new position in Monster Beverage in the third quarter valued at about $59,170,000. Nordea Investment Management AB boosted its holdings in Monster Beverage by 12.2% during the fourth quarter. Nordea Investment Management AB now owns 880,061 shares of the company's stock worth $67,738,000 after buying an additional 95,606 shares during the last quarter. Finally, Inscription Capital LLC grew its position in shares of Monster Beverage by 130.6% during the 3rd quarter. Inscription Capital LLC now owns 25,260 shares of the company's stock worth $1,700,000 after buying an additional 14,305 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MNST. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Monster Beverage in a research note on Monday, December 29th. Zacks Research cut shares of Monster Beverage from a "strong-buy" rating to a "hold" rating in a report on Monday, January 5th. BNP Paribas Exane raised shares of Monster Beverage from an "underperform" rating to a "neutral" rating and set a $77.00 target price for the company in a research note on Friday, January 16th. Citigroup increased their target price on shares of Monster Beverage from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Finally, Wells Fargo & Company reduced their price target on shares of Monster Beverage from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 8th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.00.

Monster Beverage Stock Up 0.7%

Shares of NASDAQ:MNST opened at $77.23 on Tuesday. The firm has a market cap of $75.52 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 2.68 and a beta of 0.51. Monster Beverage Corporation has a 12 month low of $57.01 and a 12 month high of $87.38. The company's fifty day simple moving average is $77.38 and its 200 day simple moving average is $75.31.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The company's revenue was up 17.6% on a year-over-year basis. Research analysts expect that Monster Beverage Corporation will post 2.29 earnings per share for the current fiscal year.

Monster Beverage Company Profile

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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