Monster Beverage Corporation $MNST Stake Lifted by Summit Global Investments

Summit Global Investments grew its stake in Monster Beverage Corporation (NASDAQ:MNST) by 14.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 84,918 shares of the company’s stock after purchasing an additional 10,756 shares during the period. Summit Global Investments’ holdings in Monster Beverage were worth $3,534,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Retirement Wealth Solutions LLC raised its stake in Monster Beverage by 113.4% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company’s stock worth $25,000 after acquiring 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 valued at $26,000 after acquiring an additional 316 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Monster Beverage in the second quarter valued at $27,000. Balance Wealth Partners LLC acquired a new position in Monster Beverage in the third quarter valued at $27,000. Finally, Jones Financial Companies Lllp acquired a new position in Monster Beverage in the second quarter valued at $28,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MNST. Citigroup reaffirmed a “buy” rating on shares of Monster Beverage in a report on Thursday, October 22nd. UBS Group boosted their target price on Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a report on Friday, August 7th. Stifel Nicolaus set a $52.00 target price on Monster Beverage in a research report on Thursday, October 22nd. Evercore decreased their target price on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. Finally, Sanford C. Bernstein dropped their price target on Monster Beverage from $95.00 to $50.00 in a research note on Sunday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.86.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $47.34 on Friday. The stock has a market cap of $92.74 billion, a P/E ratio of 43.83, a P/E/G ratio of 2.98 and a beta of 0.49. The firm has a fifty day moving average price of $44.76 and a 200 day moving average price of $43.09. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. Monster Beverage’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm posted $0.26 EPS. Sell-side analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current fiscal 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.