Monster Beverage Corporation $MNST Holdings Raised by Howard Capital Management LLC

Howard Capital Management LLC increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 99.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,574 shares of the company’s stock after buying an additional 21,241 shares during the quarter. Howard Capital Management LLC’s holdings in Monster Beverage were worth $1,772,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MNST. Rockefeller Capital Management L.P. increased its holdings in Monster Beverage by 6.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 197,899 shares of the company’s stock valued at $15,173,000 after acquiring an additional 12,050 shares in the last quarter. Oxbow Advisors LLC lifted its holdings in shares of Monster Beverage by 70.7% in the first quarter. Oxbow Advisors LLC now owns 85,814 shares of the company’s stock valued at $6,218,000 after purchasing an additional 35,528 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Monster Beverage by 2,304.9% in the first 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 in the last quarter. Swedbank AB lifted its holdings in shares of Monster Beverage by 19.6% in the first 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 in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Monster Beverage by 6.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,236,988 shares of the company’s stock valued at $94,887,000 after purchasing an additional 75,535 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Sanford C. Bernstein reduced their target price on Monster Beverage from $95.00 to $50.00 in a research note on Sunday, August 23rd. Piper Sandler upped their target price on Monster Beverage from $47.00 to $50.50 and gave the company an “overweight” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their target price on Monster Beverage from $83.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Citigroup reissued a “buy” rating on shares of Monster Beverage in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $74.07.

Monster Beverage Stock Performance

NASDAQ MNST opened at $45.73 on Friday. The firm has a market capitalization of $89.59 billion, a price-to-earnings ratio of 42.34, a PEG ratio of 2.84 and a beta of 0.49. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17. The company’s 50 day moving average price is $44.70 and its 200 day moving average price is $44.10.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Sell-side analysts forecast that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

About Monster Beverage

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.