Monster Beverage Corporation $MNST Stock: Left Brain Wealth Management LLC Raises Stake

Left Brain Wealth Management LLC grew its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 97.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,869 shares of the company’s stock after purchasing an additional 50,363 shares during the period. Monster Beverage comprises approximately 1.3% of Left Brain Wealth Management LLC’s holdings, making the stock its 28th largest holding. Left Brain Wealth Management LLC’s holdings in Monster Beverage were worth $4,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MNST. BlackRock Inc. acquired a new position in shares of Monster Beverage during the second quarter valued at about $5,770,004,000. Ninety One UK Ltd increased its position in shares of Monster Beverage by 89.1% during the third quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock worth $545,444,000 after purchasing an additional 6,175,047 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Monster Beverage by 0.8% during the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock worth $908,102,000 after buying an additional 99,168 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Monster Beverage by 23.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after acquiring an additional 1,461,167 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Monster Beverage by 27.8% in the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock valued at $717,629,000 after purchasing an additional 1,624,416 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. BNP Paribas Exane restated a “neutral” rating and issued a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research note on Monday, September 28th. Morgan Stanley lifted their price objective on shares of Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. Sanford C. Bernstein cut their price objective on shares of Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. Finally, Citigroup restated a “buy” rating on shares of Monster Beverage in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.86.

Monster Beverage Stock Up 2.1%

Shares of NASDAQ MNST opened at $47.34 on Friday. Monster Beverage Corporation has a 52-week low of $32.94 and a 52-week high of $50.17. The stock’s fifty day simple moving average is $44.76 and its 200 day simple moving average is $43.09. The stock has a market capitalization of $92.74 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 2.92 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. The company’s revenue was up 20.2% compared to the same quarter last year. As a group, 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 global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.