Monster Beverage Corporation $MNST Stock: Western Financial Corp CA Grows Stake

Western Financial Corp CA increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 680.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 115,490 shares of the company’s stock after acquiring an additional 100,690 shares during the period. Monster Beverage accounts for about 1.6% of Western Financial Corp CA’s holdings, making the stock its 14th largest position. Western Financial Corp CA’s holdings in Monster Beverage were worth $4,807,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MNST. Triumph Capital Management grew its holdings in 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 purchasing an additional 602 shares during the last quarter. Lodestone Wealth Management LLC raised its holdings in Monster Beverage by 100.0% in the 3rd quarter. Lodestone Wealth Management LLC now owns 1,446 shares of the company’s stock worth $60,000 after acquiring an additional 723 shares during the period. First Citizens Bank & Trust Co. raised its holdings in Monster Beverage by 399.2% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 33,613 shares of the company’s stock worth $1,399,000 after acquiring an additional 26,880 shares during the period. Signal Advisors Wealth LLC raised its holdings in Monster Beverage by 148.2% in the 3rd quarter. Signal Advisors Wealth LLC now owns 53,095 shares of the company’s stock worth $2,210,000 after acquiring an additional 31,702 shares during the period. Finally, Ifrah Financial Services Inc. lifted its position in Monster Beverage by 528.2% during 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 during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group upped their price objective on Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a research note on Friday, August 7th. TD Cowen raised their target price on Monster Beverage from $45.00 to $47.50 and gave the stock a “hold” rating in a research report on Wednesday, July 8th. Sanford C. Bernstein cut their target price on Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. Weiss Ratings raised Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. One investment 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.07.

Monster Beverage Trading Up 2.1%

Shares of 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 firm has a 50 day simple moving average of $44.72 and a two-hundred day simple moving average of $44.02. The firm has a market cap of $86.63 billion, a PE ratio of 40.94, a price-to-earnings-growth ratio of 2.71 and a beta of 0.49. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share 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 analysts’ expectations of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. On average, equities analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current fiscal 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.