Monster Beverage Corporation $MNST Shares Acquired by Summit Global Investments

Summit Global Investments increased its stake in Monster Beverage Corporation (NASDAQ:MNST) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,918 shares of the company’s stock after acquiring an additional 10,756 shares during the period. Summit Global Investments’ holdings in Monster Beverage were worth $3,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Monster Beverage during the 2nd quarter worth $5,770,004,000. Bank of America Corp DE acquired a new stake in Monster Beverage in the 2nd quarter valued at about $1,195,360,000. Ninety One UK Ltd raised its position in Monster Beverage by 89.1% in the 3rd quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock valued at $545,444,000 after purchasing an additional 6,175,047 shares in the last quarter. Jupiter Topco LLC acquired a new stake in Monster Beverage in the 2nd quarter valued at about $593,075,000. Finally, Legal & General Group Plc purchased a new position in shares of Monster Beverage in the 2nd quarter valued at about $478,694,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Monster Beverage stock opened at $47.34 on Friday. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The stock has a market cap of $92.74 billion, a PE ratio of 43.83, a P/E/G ratio of 2.98 and a beta of 0.49. The stock’s fifty day moving average is $44.76 and its two-hundred day moving average is $43.09.

Monster Beverage (NASDAQ:MNST) last announced its quarterly 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 company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the business earned $0.26 EPS. Monster Beverage’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, research analysts expect that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of analyst reports. Wells Fargo & Company reissued an “overweight” rating and set a $50.00 price objective (up from $48.00) on shares of Monster Beverage in a research report on Monday, October 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $50.50 target price on shares of Monster Beverage in a report on Monday, October 19th. Sanford C. Bernstein decreased their price target on shares of Monster Beverage from $95.00 to $50.00 in a research note on Sunday, August 23rd. Finally, TD Cowen boosted their price target on shares of Monster Beverage from $45.00 to $47.50 and gave the stock a “hold” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.86.

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.