Monster Beverage Corporation $MNST Stock: Profund Advisors LLC Grows Position

Profund Advisors LLC increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 85.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 141,889 shares of the company’s stock after acquiring an additional 65,182 shares during the quarter. Profund Advisors LLC’s holdings in Monster Beverage were worth $5,905,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oxbow Advisors LLC raised its holdings in Monster Beverage by 70.7% during the first quarter. Oxbow Advisors LLC now owns 85,814 shares of the company’s stock worth $6,218,000 after purchasing an additional 35,528 shares in the last quarter. Whittier Trust Co. increased its position in shares of Monster Beverage by 2,304.9% during the 1st quarter. Whittier Trust Co. now owns 231,852 shares of the company’s stock valued at $17,194,000 after purchasing an additional 222,211 shares during the period. Swedbank AB increased its position in shares of Monster Beverage by 19.6% during the 1st quarter. Swedbank AB now owns 472,529 shares of the company’s stock valued at $34,239,000 after purchasing an additional 77,485 shares during the period. SteelPeak Wealth LLC raised its stake in shares of Monster Beverage by 101.6% in the 3rd quarter. SteelPeak Wealth LLC now owns 57,569 shares of the company’s stock worth $2,396,000 after buying an additional 29,014 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Monster Beverage by 9,515.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 95,576 shares of the company’s stock valued at $7,088,000 after buying an additional 94,582 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Up 2.1%

Shares of MNST stock opened at $47.34 on Friday. The firm has a market cap of $92.74 billion, a P/E ratio of 43.83, a price-to-earnings-growth ratio of 2.98 and a beta of 0.49. Monster Beverage Corporation has a 12-month low of $32.94 and a 12-month high of $50.17. The business has a 50-day moving average price of $44.76 and a two-hundred day moving average price of $43.09.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. Monster Beverage’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, research analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MNST has been the topic of several recent research reports. Jefferies Financial Group reduced their price target on Monster Beverage from $108.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Zacks Research upgraded shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. Weiss Ratings cut shares of Monster Beverage from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. BMO Capital Markets reissued a “market perform” rating and issued a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. Finally, Evercore reduced their target price on Monster Beverage from $95.00 to $52.00 in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus 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.