Monster Beverage Corporation $MNST Stock Purchased by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 61.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,408,610 shares of the company’s stock after purchasing an additional 1,294,819 shares during the period. Monster Beverage comprises approximately 2.3% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 18th largest position. Montrusco Bolton Investments Inc.’s holdings in Monster Beverage were worth $141,866,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. CI Investments Inc. lifted its stake in Monster Beverage by 3.5% during the first quarter. CI Investments Inc. now owns 3,497 shares of the company’s stock worth $253,000 after purchasing an additional 119 shares during the last quarter. Root Financial Partners LLC increased its position in Monster Beverage by 2.8% during the first quarter. Root Financial Partners LLC now owns 4,981 shares of the company’s stock worth $361,000 after buying an additional 137 shares during the period. Wealth Alliance LLC raised its position in Monster Beverage by 2.2% in the 1st quarter. Wealth Alliance LLC now owns 6,752 shares of the company’s stock valued at $489,000 after purchasing an additional 148 shares during the last quarter. CX Institutional increased its stake in Monster Beverage by 2.4% in the second quarter. CX Institutional now owns 6,384 shares of the company’s stock valued at $614,000 after purchasing an additional 148 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in shares of Monster Beverage by 1.0% during the first quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company’s stock worth $1,275,000 after buying an additional 175 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Down 1.0%

Shares of MNST traded down $0.45 during mid-day trading on Tuesday, reaching $43.31. The company had a trading volume of 7,847,857 shares, compared to its average volume of 11,203,195. The stock has a market cap of $84.85 billion, a price-to-earnings ratio of 40.10, a price-to-earnings-growth ratio of 2.85 and a beta of 0.49. The firm has a fifty day simple moving average of $44.86 and a 200-day simple moving average of $43.92. Monster Beverage Corporation has a fifty-two week low of $32.94 and a fifty-two week high of $50.17.

Monster Beverage (NASDAQ:MNST) last issued 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 return on equity of 26.02% and a net margin of 23.08%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities analysts predict that Monster Beverage Corporation will post 1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

MNST has been the subject of several recent research reports. Morgan Stanley increased their price target on Monster Beverage from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Sanford C. Bernstein decreased their target price on shares of Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. Jefferies Financial Group decreased their price objective on shares of Monster Beverage from $108.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. BNP Paribas Exane reiterated a “neutral” rating and set a $98.00 target price (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Finally, Piper Sandler boosted their price objective on shares of Monster Beverage from $47.00 to $50.50 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. 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 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.