Cornerstone Advisors LLC Acquires 32,100 Shares of Monster Beverage Corporation $MNST

Cornerstone Advisors LLC boosted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 43.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,700 shares of the company’s stock after buying an additional 32,100 shares during the period. Cornerstone Advisors LLC’s holdings in Monster Beverage were worth $6,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Monster Beverage by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after purchasing an additional 1,151,175 shares during the last quarter. Geode Capital Management LLC grew its stake in Monster Beverage by 4.1% in the second quarter. Geode Capital Management LLC now owns 18,680,424 shares of the company’s stock valued at $1,165,292,000 after purchasing an additional 742,518 shares during the last quarter. Invesco Ltd. raised its holdings in Monster Beverage by 6.6% in the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after purchasing an additional 563,353 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of Monster Beverage by 4.9% during the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock valued at $560,282,000 after buying an additional 418,918 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Monster Beverage during the first quarter valued at about $497,157,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Monster Beverage in a research report on Tuesday, November 4th. Morgan Stanley restated an “overweight” rating and issued a $81.00 target price (up from $74.00) on shares of Monster Beverage in a research note on Friday, November 7th. Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Finally, Bank of America raised their price objective on Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.62.

Monster Beverage Price Performance

NASDAQ MNST opened at $71.31 on Friday. The stock’s fifty day moving average price is $67.39 and its 200 day moving average price is $63.89. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $72.62. The company has a market cap of $69.67 billion, a price-to-earnings ratio of 44.29, a PEG ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. Research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Monster Beverage Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.