DoubleLine ETF Adviser LP Makes New Investment in Monster Beverage Corporation $MNST

DoubleLine ETF Adviser LP purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,481 shares of the company’s stock, valued at approximately $2,523,000.

Other institutional investors have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. lifted its stake in Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after acquiring an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new position in Monster Beverage during the 3rd quarter valued at about $27,000. First Horizon Corp bought a new stake in shares of Monster Beverage in the 3rd quarter valued at about $29,000. Armstrong Advisory Group Inc. lifted its position in shares of Monster Beverage by 49.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock worth $30,000 after purchasing an additional 146 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 415 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

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 $73.43. 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 data on Thursday, February 26th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 EPS. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MNST. Citigroup lifted their price objective on shares of Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 27th. Jefferies Financial Group increased their target price on Monster Beverage from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 27th. BMO Capital Markets reiterated a “market perform” rating and issued a $73.00 price target (up from $53.00) on shares of Monster Beverage in a report on Wednesday, December 3rd. Stifel Nicolaus boosted their price target on Monster Beverage from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. 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 investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and a consensus target price of $84.14.

Monster Beverage Profile

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.