Monster Beverage Corporation $MNST Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in Monster Beverage Corporation (NASDAQ:MNST) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,222 shares of the company’s stock after acquiring an additional 12,304 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Monster Beverage were worth $12,890,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Monster Beverage during the 2nd quarter worth approximately $544,584,000. Schroder Investment Management Group boosted its stake in shares of Monster Beverage by 4,877.8% in the second quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company’s stock valued at $456,262,000 after buying an additional 7,137,552 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Monster Beverage by 467.0% in the second quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock valued at $422,996,000 after buying an additional 5,641,160 shares in the last quarter. State Street Corp grew its holdings in Monster Beverage by 8.0% during the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock worth $2,538,872,000 after acquiring an additional 2,789,273 shares during the period. Finally, Vanguard Group Inc. raised its position in Monster Beverage by 3.2% in the third quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after acquiring an additional 2,122,685 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler raised their target price on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. The Goldman Sachs Group upped their target price on shares of Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Bank of America lifted their price target on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Evercore upped their price target on Monster Beverage from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Monster Beverage from $79.00 to $81.00 and gave the stock a “neutral” rating in a report 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 stock. Based on data from MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and a consensus price target of $83.95.

Monster Beverage Price Performance

MNST stock opened at $71.98 on Friday. The company’s 50 day simple moving average is $79.68 and its 200-day simple moving average is $74.09. Monster Beverage Corporation has a 12 month low of $54.73 and a 12 month high of $87.38. The firm has a market capitalization of $70.33 billion, a PE ratio of 37.10, a P/E/G ratio of 2.36 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $2.10 billion for 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%.Monster Beverage’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.