Patton Fund Management Inc. Boosts Holdings in Monster Beverage Corporation $MNST

Patton Fund Management Inc. lifted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 68.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 76,001 shares of the company’s stock after buying an additional 30,979 shares during the quarter. Patton Fund Management Inc.’s holdings in Monster Beverage were worth $5,827,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MNST. Jones Financial Companies Lllp increased its holdings in Monster Beverage by 397.9% in the 1st quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock worth $890,000 after buying an additional 12,148 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Monster Beverage by 247.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after buying an additional 9,251 shares in the last quarter. Cresset Asset Management LLC increased its holdings in Monster Beverage by 23.9% in the 2nd quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock worth $417,000 after buying an additional 1,281 shares in the last quarter. Federated Hermes Inc. increased its holdings in Monster Beverage by 55.9% in the 2nd quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock worth $301,000 after buying an additional 1,721 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Monster Beverage by 151.7% in the 2nd quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock worth $2,134,000 after buying an additional 20,538 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MNST shares. Wells Fargo & Company reduced their price objective on Monster Beverage from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Stifel Nicolaus lifted their price objective on Monster Beverage from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Argus boosted their price target on Monster Beverage from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Monster Beverage from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Finally, Piper Sandler increased their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.38.

Monster Beverage Stock Down 0.7%

Shares of NASDAQ:MNST opened at $75.17 on Tuesday. The firm’s 50 day moving average price is $77.97 and its 200-day moving average price is $74.99. Monster Beverage Corporation has a twelve month low of $57.01 and a twelve month high of $87.38. The stock has a market capitalization of $73.51 billion, a PE ratio of 38.75, a price-to-earnings-growth ratio of 2.51 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. Analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.