Chesapeake Capital Corp IL Invests $689,000 in Monster Beverage Corporation $MNST

Chesapeake Capital Corp IL purchased a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,239 shares of the company’s stock, valued at approximately $689,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. grew its holdings in Monster Beverage by 49.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock worth $30,000 after acquiring an additional 146 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Monster Beverage by 4.1% in the 3rd quarter. D.A. Davidson & CO. now owns 3,930 shares of the company’s stock valued at $265,000 after purchasing an additional 155 shares in the last quarter. Premier Path Wealth Partners LLC raised its holdings in shares of Monster Beverage by 3.2% in the 3rd quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company’s stock valued at $353,000 after purchasing an additional 161 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Monster Beverage by 13.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,490 shares of the company’s stock worth $93,000 after purchasing an additional 176 shares during the period. Finally, Meiji Yasuda Life Insurance Co lifted its position in shares of Monster Beverage by 1.9% in the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 10,489 shares of the company’s stock worth $706,000 after purchasing an additional 194 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Up 0.2%

Shares of MNST opened at $77.11 on Friday. The company has a 50 day moving average of $80.18 and a two-hundred day moving average of $73.36. Monster Beverage Corporation has a twelve month low of $54.22 and a twelve month high of $87.38. The company has a market cap of $75.34 billion, a price-to-earnings ratio of 39.75, a price-to-earnings-growth ratio of 2.49 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of recent research reports. Zacks Research downgraded shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Stifel Nicolaus increased their target price on Monster Beverage from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. lifted their price target on Monster Beverage from $79.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, February 27th. The Goldman Sachs Group boosted their price target on Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Finally, Wells Fargo & Company upped their price objective on Monster Beverage from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.14.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.