18,687 Monster Beverage Corporation $MNST Shares Purchased by Ifrah Financial Services Inc.

Ifrah Financial Services Inc. lifted its position in Monster Beverage Corporation (NASDAQ:MNST) by 528.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 22,225 shares of the company’s stock after purchasing an additional 18,687 shares during the period. Ifrah Financial Services Inc.’s holdings in Monster Beverage were worth $925,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MNST. B. Riley Wealth Advisors Inc. lifted its stake in Monster Beverage by 117.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,453 shares of the company’s stock worth $477,000 after purchasing an additional 6,178 shares in the last quarter. Krilogy Financial LLC grew its position in shares of Monster Beverage by 88.8% during the 3rd quarter. Krilogy Financial LLC now owns 12,937 shares of the company’s stock valued at $566,000 after purchasing an additional 6,085 shares in the last quarter. Verus Wealth Management LLC purchased a new position in shares of Monster Beverage during the 3rd quarter valued at $241,000. Contravisory Investment Management Inc. grew its position in shares of Monster Beverage by 257.4% during the 3rd quarter. Contravisory Investment Management Inc. now owns 31,324 shares of the company’s stock valued at $1,304,000 after purchasing an additional 22,560 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. increased its holdings in shares of Monster Beverage by 61.3% in the third quarter. Montrusco Bolton Investments Inc. now owns 3,408,610 shares of the company’s stock worth $141,866,000 after purchasing an additional 1,294,819 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MNST shares. Citigroup reiterated a “buy” rating on shares of Monster Beverage in a research report on Wednesday, August 12th. BNP Paribas Exane reissued a “neutral” rating and set a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research note on Monday, September 28th. Weiss Ratings upgraded Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Stifel Nicolaus boosted their target price on Monster Beverage from $45.00 to $52.50 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, UBS Group raised their price target on Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a report on Friday, August 7th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.07.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $43.31 on Wednesday. Monster Beverage Corporation has a 1 year low of $32.94 and a 1 year high of $50.17. The firm has a market cap of $84.85 billion, a PE ratio of 38.90, a PEG ratio of 2.71 and a beta of 0.49. The company has a 50 day simple moving average of $44.79 and a two-hundred day simple moving average of $43.96.

Monster Beverage (NASDAQ:MNST) last issued 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 firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, research analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Monster Beverage Company 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.