Monster Beverage Corporation $MNST Stock: Cornerstone Advisors LLC Increases Position

Cornerstone Advisors LLC increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 27.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 251,662 shares of the company’s stock after buying an additional 53,681 shares during the period. Cornerstone Advisors LLC’s holdings in Monster Beverage were worth $10,474,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MNST. Retirement Wealth Solutions LLC boosted its position in Monster Beverage by 113.4% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company’s stock valued at $25,000 after buying an additional 321 shares during the last quarter. Davis Capital Management increased its position in shares of Monster Beverage by 98.8% during the third quarter. Davis Capital Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 316 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Monster Beverage during the second quarter worth about $27,000. Balance Wealth Partners LLC acquired a new position in shares of Monster Beverage in the third quarter worth about $27,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of Monster Beverage in the second quarter worth about $28,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Monster Beverage stock opened at $46.46 on Friday. The company has a market cap of $90.95 billion, a PE ratio of 42.05, a P/E/G ratio of 2.99 and a beta of 0.51. The company has a fifty day moving average price of $44.75 and a two-hundred day moving average price of $43.42. Monster Beverage Corporation has a 12 month low of $35.40 and a 12 month high of $50.17.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, November 5th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. Monster Beverage had a net margin of 22.66% and a return on equity of 24.99%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 earnings per share. Equities research analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Citigroup restated a “buy” rating on shares of Monster Beverage in a report on Thursday, October 22nd. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $98.00 target price (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Piper Sandler upped their target price on Monster Beverage from $50.50 to $53.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $47.00 target price on shares of Monster Beverage in a research note on Monday. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $67.07.

About Monster Beverage

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages. The company traces its roots to Hansen’s, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012. Based in Corona, California, Monster sells its products in the United States and internationally.