Monster Beverage Corporation $MNST Stock Purchased by Ninety One UK Ltd

Ninety One UK Ltd grew its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 89.1% during the third quarter, Holdings Channel reports. The institutional investor owned 13,105,329 shares of the company’s stock after acquiring an additional 6,175,047 shares during the period. Monster Beverage makes up about 1.3% of Ninety One UK Ltd’s holdings, making the stock its 22nd largest position. Ninety One UK Ltd’s holdings in Monster Beverage were worth $545,444,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC raised its holdings in Monster Beverage by 113.4% during the third quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company’s stock worth $25,000 after purchasing an additional 321 shares in the last quarter. Davis Capital Management lifted its position in Monster Beverage by 98.8% in the third quarter. Davis Capital Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 316 shares during the period. Johnson Financial Group Inc. bought a new position in Monster Beverage during the 2nd quarter valued at $27,000. Jones Financial Companies Lllp bought a new position in Monster Beverage during the 2nd quarter valued at $28,000. Finally, MV Capital Management Inc. bought a new position in Monster Beverage during the 4th quarter valued at $30,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MNST. Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Monday. Wells Fargo & Company cut their price objective on Monster Beverage from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Citigroup reaffirmed a “buy” rating on shares of Monster Beverage in a research note on Wednesday, August 12th. Weiss Ratings raised Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Finally, BNP Paribas Exane reaffirmed a “neutral” rating and set a $98.00 target price (up from $84.00) on shares of Monster Beverage in a report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average target price of $74.07.

Monster Beverage Trading Up 1.9%

MNST stock traded up $0.85 on Thursday, hitting $45.07. 4,952,686 shares of the company’s stock traded hands, compared to its average volume of 11,170,627. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The stock has a market cap of $88.30 billion, a price-to-earnings ratio of 41.70, a P/E/G ratio of 2.69 and a beta of 0.49. The stock has a fifty day moving average of $44.72 and a 200-day moving average of $44.02.

Monster Beverage (NASDAQ:MNST) last issued its 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 firm had revenue of $2.50 billion during 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 firm’s revenue for the quarter 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 research analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Monster Beverage 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.