Monster Beverage Corporation $MNST Stake Increased by New York Life Investment Management LLC

New York Life Investment Management LLC increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 100.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 199,045 shares of the company’s stock after purchasing an additional 99,507 shares during the quarter. New York Life Investment Management LLC’s holdings in Monster Beverage were worth $8,284,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Monster Beverage in the second quarter worth $5,770,004,000. Bank of America Corp DE purchased a new position in shares of Monster Beverage in the 2nd quarter valued at $1,195,360,000. Wellington Management Group LLP raised its stake in shares of Monster Beverage by 27.8% in the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock valued at $717,629,000 after acquiring an additional 1,624,416 shares during the period. Jupiter Topco LLC acquired a new position in shares of Monster Beverage during the 2nd quarter valued at $593,075,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Monster Beverage by 23.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after acquiring an additional 1,461,167 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MNST has been the subject of a number of research reports. Deutsche Bank reaffirmed a “hold” rating and set a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research report on Monday, August 10th. Wells Fargo & Company raised their price objective on Monster Beverage from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Royal Bank Of Canada restated an “outperform” rating and set a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. Weiss Ratings upgraded Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, November 3rd. Finally, Piper Sandler upped their target price on Monster Beverage from $50.50 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $67.07.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $45.57 on Friday. Monster Beverage Corporation has a 1 year low of $35.03 and a 1 year high of $50.17. The stock’s 50-day simple moving average is $44.70 and its 200-day simple moving average is $43.39. The firm has a market cap of $89.20 billion, a price-to-earnings ratio of 41.24, a PEG ratio of 2.98 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. Monster Beverage had a return on equity of 24.99% and a net margin of 22.66%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the business posted $0.56 earnings per share. Monster Beverage’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, research analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current year.

Monster Beverage Company Profile

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.