Monster Beverage Corporation $MNST Shares Acquired by Mainsail Financial Group LLC

Mainsail Financial Group LLC grew its position in Monster Beverage Corporation (NASDAQ:MNST) by 98.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,993 shares of the company’s stock after buying an additional 21,800 shares during the quarter. Mainsail Financial Group LLC’s holdings in Monster Beverage were worth $1,831,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC raised its holdings in shares of Monster Beverage by 93.4% in the third quarter. Signaturefd LLC now owns 91,689 shares of the company’s stock valued at $3,816,000 after acquiring an additional 44,292 shares in the last quarter. BG Investment Services LLC purchased a new stake in Monster Beverage in the third quarter worth about $3,901,000. Citizens Financial Group Inc. RI grew its holdings in Monster Beverage by 99.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 15,502 shares of the company’s stock worth $645,000 after acquiring an additional 7,738 shares in the last quarter. Simplicity Wealth LLC grew its holdings in Monster Beverage by 108.3% during the 3rd quarter. Simplicity Wealth LLC now owns 19,121 shares of the company’s stock worth $796,000 after acquiring an additional 9,943 shares in the last quarter. Finally, Sowell Financial Services LLC grew its holdings in Monster Beverage by 44.3% during the 3rd quarter. Sowell Financial Services LLC now owns 9,125 shares of the company’s stock worth $380,000 after acquiring an additional 2,802 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $46.19 on Monday. The stock has a market capitalization of $90.49 billion, a P/E ratio of 42.77, a price-to-earnings-growth ratio of 2.91 and a beta of 0.49. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The business has a fifty day moving average price of $44.77 and a 200 day moving average price of $44.52.

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

Wall Street Analyst Weigh In

A number of research firms have commented on MNST. Royal Bank Of Canada reissued an “outperform” rating and set a $48.50 target price (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $98.00 price target (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. Weiss Ratings downgraded shares of Monster Beverage from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. Wells Fargo & Company cut their price objective on shares of Monster Beverage from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Monster Beverage from $106.00 to $110.00 and gave the company a “buy” rating in a 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 given a Hold rating to the company. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target of $74.05.

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.