Donoghue Forlines LLC Acquires Shares of 31,027 Monster Beverage Corporation $MNST

Donoghue Forlines LLC acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST) in the fourth quarter, Holdings Channel reports. The firm acquired 31,027 shares of the company’s stock, valued at approximately $2,379,000. Monster Beverage makes up about 0.7% of Donoghue Forlines LLC’s holdings, making the stock its 29th biggest position.

A number of other large investors have also added to or reduced their stakes in MNST. ABN AMRO Bank N.V. bought a new stake in shares of Monster Beverage in the 3rd quarter worth $59,170,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Monster Beverage by 7.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,605,873 shares of the company’s stock worth $122,303,000 after purchasing an additional 116,510 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Monster Beverage by 12.2% in the 4th quarter. Nordea Investment Management AB now owns 880,061 shares of the company’s stock worth $67,738,000 after purchasing an additional 95,606 shares in the last quarter. Inscription Capital LLC increased its holdings in shares of Monster Beverage by 130.6% in the 3rd quarter. Inscription Capital LLC now owns 25,260 shares of the company’s stock worth $1,700,000 after purchasing an additional 14,305 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Monster Beverage by 2,436.3% in the 3rd quarter. UMB Bank n.a. now owns 57,371 shares of the company’s stock worth $3,862,000 after purchasing an additional 55,109 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST opened at $85.82 on Friday. Monster Beverage Corporation has a one year low of $58.09 and a one year high of $88.77. The firm has a market capitalization of $83.93 billion, a P/E ratio of 41.46, a PEG ratio of 2.83 and a beta of 0.50. The business has a fifty day moving average of $76.38 and a 200 day moving average of $76.52.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. Monster Beverage’s revenue was up 22.6% compared to the same quarter last year. Analysts expect that Monster Beverage Corporation will post 2.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. BNP Paribas Exane raised Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 target price for the company in a report on Friday, January 16th. Piper Sandler lifted their target price on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Jefferies Financial Group set a $100.00 target price on Monster Beverage in a report on Wednesday, March 11th. TD Cowen reduced their target price on Monster Beverage from $88.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 20th. Finally, Argus lifted their target price on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.37.

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.