QRG Capital Management Inc. Has $5.30 Million Holdings in Monster Beverage Corporation $MNST

QRG Capital Management Inc. raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,103 shares of the company’s stock after acquiring an additional 9,030 shares during the period. QRG Capital Management Inc.’s holdings in Monster Beverage were worth $5,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MNST. Physician Wealth Advisors Inc. boosted its stake in Monster Beverage by 508.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after purchasing an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in Monster Beverage in the 3rd quarter worth approximately $27,000. Harbor Investment Advisory LLC lifted its holdings in shares of Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after buying an additional 205 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after acquiring an additional 415 shares during the period. Finally, First Horizon Corp bought a new stake in shares of Monster Beverage in the third quarter valued at approximately $29,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Up 1.8%

MNST stock opened at $77.20 on Thursday. The business’s 50 day moving average is $76.31 and its 200-day moving average is $75.90. Monster Beverage Corporation has a 1-year low of $58.09 and a 1-year high of $87.38. The firm has a market cap of $75.49 billion, a P/E ratio of 39.79, a P/E/G ratio of 2.71 and a beta of 0.50.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. Sell-side analysts forecast that Monster Beverage Corporation will post 2.28 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $96.00 target price (up from $87.00) on shares of Monster Beverage in a research report on Monday, January 26th. Piper Sandler raised their price target on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, BNP Paribas Exane upgraded shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 target price for the company in a research note on Friday, January 16th. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.90.

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.