Monster Beverage Corporation $MNST Stake Boosted by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 20,010.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 19,909 shares of the company’s stock after acquiring an additional 19,810 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Monster Beverage were worth $829,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Integrity Alliance LLC. acquired a new position in shares of Monster Beverage during the 3rd quarter worth approximately $239,000. Oregon Public Employees Retirement Fund lifted its holdings in Monster Beverage by 100.3% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 175,804 shares of the company’s stock valued at $7,317,000 after purchasing an additional 88,012 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super lifted its holdings in Monster Beverage by 100.0% during the 3rd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 857,164 shares of the company’s stock valued at $35,675,000 after purchasing an additional 428,582 shares during the last quarter. VCI Wealth Management LLC bought a new position in Monster Beverage during the third quarter worth $1,697,000. Finally, Signature Equity Partners LLC boosted its position in Monster Beverage by 127.1% during the third quarter. Signature Equity Partners LLC now owns 5,538 shares of the company’s stock worth $230,000 after purchasing an additional 3,099 shares during the period. Institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MNST. Sanford C. Bernstein dropped their price objective on shares of Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. JPMorgan Chase & Co. reduced their target price on shares of Monster Beverage from $49.50 to $49.00 and set a “neutral” rating for the company in a report on Monday, October 26th. TD Cowen upped their price target on shares of Monster Beverage from $45.00 to $47.50 and gave the company a “hold” rating in a research note on Wednesday, July 8th. Piper Sandler reissued an “overweight” rating and issued a $50.50 price target on shares of Monster Beverage in a report on Monday, October 19th. Finally, Weiss Ratings raised shares of Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. One 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’s stock. According to data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus target price of $71.86.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $48.75 on Thursday. Monster Beverage Corporation has a 52 week low of $32.94 and a 52 week high of $50.17. The firm has a market cap of $95.50 billion, a price-to-earnings ratio of 45.14, a P/E/G ratio of 2.97 and a beta of 0.51. The firm’s 50-day simple moving average is $44.73 and its 200 day simple moving average is $43.23.

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

About Monster Beverage

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.