Monster Beverage Corporation $MNST Stake Increased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 341.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 247,444 shares of the company’s stock after purchasing an additional 191,379 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Monster Beverage were worth $10,299,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strengthening Families & Communities LLC increased its position in shares of Monster Beverage by 92.7% during the third quarter. Strengthening Families & Communities LLC now owns 744 shares of the company’s stock worth $31,000 after buying an additional 358 shares during the period. Schuylkill Financial LLC raised its stake in Monster Beverage by 121.4% during the third quarter. Schuylkill Financial LLC now owns 20,166 shares of the company’s stock worth $839,000 after buying an additional 11,057 shares during the last quarter. Sowell Financial Services LLC raised its stake in Monster Beverage by 44.3% during the third quarter. Sowell Financial Services LLC now owns 9,125 shares of the company’s stock worth $380,000 after buying an additional 2,802 shares during the last quarter. Axecap Investments LLC raised its stake in Monster Beverage by 129.1% during the third quarter. Axecap Investments LLC now owns 115,499 shares of the company’s stock worth $4,807,000 after buying an additional 65,076 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Monster Beverage by 107.6% in the third quarter. Quadrant Capital Group LLC now owns 27,318 shares of the company’s stock valued at $1,183,000 after buying an additional 14,157 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Monster Beverage from $83.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Citigroup reissued a “buy” rating on shares of Monster Beverage in a research report on Thursday. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. Stifel Nicolaus set a $52.00 price objective on Monster Beverage in a research note on Thursday. Finally, Morgan Stanley upped their target price on Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. One 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.05.

Monster Beverage Stock Up 1.5%

Monster Beverage stock opened at $47.33 on Friday. Monster Beverage Corporation has a 12-month low of $32.94 and a 12-month high of $50.17. The firm’s fifty day moving average is $44.78 and its 200 day moving average is $44.46. The company has a market capitalization of $92.72 billion, a PE ratio of 43.82, a PEG ratio of 2.89 and a beta of 0.49.

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 for the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. Monster Beverage’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. Sell-side analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

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.