Park Avenue Securities LLC Increases Stake in Monster Beverage Corporation $MNST

Park Avenue Securities LLC lifted its position in Monster Beverage Corporation (NASDAQ:MNST) by 43.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,279 shares of the company’s stock after buying an additional 8,887 shares during the period. Park Avenue Securities LLC’s holdings in Monster Beverage were worth $2,245,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its holdings in Monster Beverage by 49.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock worth $30,000 after acquiring an additional 146 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Monster Beverage by 4.1% in the 3rd quarter. D.A. Davidson & CO. now owns 3,930 shares of the company’s stock valued at $265,000 after purchasing an additional 155 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of Monster Beverage by 3.2% in the 3rd quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company’s stock worth $353,000 after purchasing an additional 161 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in shares of Monster Beverage by 13.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,490 shares of the company’s stock worth $93,000 after purchasing an additional 176 shares during the period. Finally, Meiji Yasuda Life Insurance Co boosted its stake in shares of Monster Beverage by 1.9% during the third quarter. Meiji Yasuda Life Insurance Co now owns 10,489 shares of the company’s stock valued at $706,000 after purchasing an additional 194 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on MNST shares. Evercore boosted their price objective on shares of Monster Beverage from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Citigroup increased their target price on Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Piper Sandler lifted their price target on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. The Goldman Sachs Group boosted their price target on Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Finally, Wells Fargo & Company decreased their price objective on Monster Beverage from $94.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.95.

Monster Beverage Stock Up 0.4%

NASDAQ:MNST opened at $73.96 on Tuesday. The stock has a market capitalization of $72.26 billion, a price-to-earnings ratio of 38.12, a PEG ratio of 2.38 and a beta of 0.44. Monster Beverage Corporation has a 52 week low of $54.73 and a 52 week high of $87.38. The firm has a 50 day moving average of $80.00 and a 200 day moving average of $74.03.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.