TD Waterhouse Canada Inc. Purchases 17,486 Shares of Monster Beverage Corporation $MNST

TD Waterhouse Canada Inc. grew its position in Monster Beverage Corporation (NASDAQ:MNST) by 37.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 64,680 shares of the company’s stock after buying an additional 17,486 shares during the period. TD Waterhouse Canada Inc.’s holdings in Monster Beverage were worth $2,728,000 as of its most recent SEC filing.

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

Monster Beverage Stock Up 0.5%

Shares of NASDAQ MNST opened at $47.04 on Wednesday. The firm’s 50-day moving average price is $44.75 and its 200-day moving average price is $44.31. Monster Beverage Corporation has a 52-week low of $32.94 and a 52-week high of $50.17. The company has a market cap of $92.15 billion, a PE ratio of 43.56, a PEG ratio of 2.90 and a beta of 0.49.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research raised Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Stifel Nicolaus increased their target price on Monster Beverage from $45.00 to $52.50 and gave the company a “buy” rating in a research note on Thursday, July 16th. Citigroup reissued a “buy” rating on shares of Monster Beverage in a report on Wednesday, August 12th. BMO Capital Markets restated a “market perform” rating and issued a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research note on Monday, July 20th. Finally, Sanford C. Bernstein decreased their price target on Monster Beverage from $95.00 to $50.00 in a research note on Sunday, August 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.07.

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.