M&T Bank Corp Buys 12,020 Shares of Monster Beverage Corporation $MNST

M&T Bank Corp raised its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 28.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 54,374 shares of the company’s stock after acquiring an additional 12,020 shares during the quarter. M&T Bank Corp’s holdings in Monster Beverage were worth $4,169,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MNST. Massachusetts Financial Services Co. MA increased its holdings in shares of Monster Beverage by 7,360.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock worth $474,695,000 after purchasing an additional 6,108,420 shares during the period. State Street Corp increased its holdings in shares of Monster Beverage by 8.0% during the 3rd quarter. State Street Corp now owns 37,719,091 shares of the company’s stock worth $2,538,872,000 after purchasing an additional 2,789,273 shares during the period. Vanguard Group Inc. increased its holdings in shares of Monster Beverage by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after purchasing an additional 2,122,685 shares during the period. Capital Research Global Investors increased its holdings in shares of Monster Beverage by 71.4% during the 3rd quarter. Capital Research Global Investors now owns 5,033,066 shares of the company’s stock worth $338,765,000 after purchasing an additional 2,096,575 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Monster Beverage by 262.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,327,626 shares of the company’s stock worth $178,459,000 after purchasing an additional 1,684,752 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 1.8%

NASDAQ:MNST opened at $77.20 on Thursday. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $87.38. The firm has a market capitalization of $75.49 billion, a PE ratio of 39.79, a price-to-earnings-growth ratio of 2.71 and a beta of 0.50. The firm has a 50-day moving average price of $76.31 and a 200 day moving average price of $75.90.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) 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 firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, research analysts expect that Monster Beverage Corporation will post 2.28 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Morgan Stanley reissued an “overweight” rating and issued a $96.00 price target (up from $87.00) on shares of Monster Beverage in a research report on Monday, January 26th. Finally, Argus increased their price target on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Fifteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and an average price target of $85.90.

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.