United Asset Strategies Inc. Boosts Holdings in Monster Beverage Corporation $MNST

United Asset Strategies Inc. grew its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,290 shares of the company’s stock after acquiring an additional 2,592 shares during the period. United Asset Strategies Inc.’s holdings in Monster Beverage were worth $9,727,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Twin Capital Management Inc. increased its holdings in Monster Beverage by 11.6% in the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock worth $305,000 after acquiring an additional 540 shares in the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of Monster Beverage in the second quarter worth approximately $365,000. Avior Wealth Management LLC increased its stake in shares of Monster Beverage by 35.3% in the second quarter. Avior Wealth Management LLC now owns 22,146 shares of the company’s stock worth $1,387,000 after purchasing an additional 5,781 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its position in shares of Monster Beverage by 1.1% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 450,840 shares of the company’s stock valued at $28,241,000 after purchasing an additional 5,118 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Monster Beverage by 1.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,191,598 shares of the company’s stock worth $136,054,000 after buying an additional 22,960 shares during the period. Institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MNST. Bank of America raised their price target on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday, November 7th. Wells Fargo & Company upped their price target on Monster Beverage from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. The Goldman Sachs Group upped their target price on shares of Monster Beverage from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. UBS Group lifted their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Hold” and an average price target of $69.62.

Monster Beverage Trading Up 2.7%

Shares of NASDAQ MNST opened at $71.91 on Wednesday. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $72.62. The firm’s 50-day moving average price is $66.92 and its 200-day moving average price is $63.67. The stock has a market capitalization of $70.21 billion, a price-to-earnings ratio of 44.66, a P/E/G ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, equities analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.