Rakuten Investment Management Inc. Purchases 233,428 Shares of Monster Beverage Corporation $MNST

Rakuten Investment Management Inc. raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 121.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 425,588 shares of the company’s stock after buying an additional 233,428 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Monster Beverage were worth $17,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. AIA Group Ltd raised its stake in Monster Beverage by 102.1% in the third quarter. AIA Group Ltd now owns 209,250 shares of the company’s stock valued at $8,709,000 after purchasing an additional 105,713 shares in the last quarter. Third View Private Wealth LLC lifted its position in Monster Beverage by 99.9% during the third quarter. Third View Private Wealth LLC now owns 219,535 shares of the company’s stock valued at $9,137,000 after purchasing an additional 109,714 shares during the last quarter. Provenance Wealth Advisors LLC lifted its position in Monster Beverage by 20,010.1% during the third quarter. Provenance Wealth Advisors LLC now owns 19,909 shares of the company’s stock valued at $829,000 after purchasing an additional 19,810 shares during the last quarter. Integrity Alliance LLC. purchased a new position in Monster Beverage in the 3rd quarter worth approximately $239,000. Finally, Oregon Public Employees Retirement Fund grew its stake in Monster Beverage by 100.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 175,804 shares of the company’s stock worth $7,317,000 after buying an additional 88,012 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Trading Up 3.3%

Monster Beverage stock opened at $48.75 on Thursday. The company has a market capitalization of $95.50 billion, a price-to-earnings ratio of 45.14, a price-to-earnings-growth ratio of 2.97 and a beta of 0.51. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17. The business’s fifty day simple moving average is $44.73 and its two-hundred day simple moving average is $43.23.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on MNST. TD Cowen upped their target price on shares of Monster Beverage from $45.00 to $47.50 and gave the stock a “hold” rating in a research report on Wednesday, July 8th. BMO Capital Markets restated a “market perform” rating and set a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. Piper Sandler reaffirmed an “overweight” rating and set a $50.50 price target on shares of Monster Beverage in a research note on Monday, October 19th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. Finally, Sanford C. Bernstein cut their price objective on Monster Beverage from $95.00 to $50.00 in a report on Sunday, August 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.86.

Monster Beverage 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.