NewEdge Wealth LLC Boosts Stock Position in Monster Beverage Corporation $MNST

NewEdge Wealth LLC boosted its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 84.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,918 shares of the company’s stock after purchasing an additional 13,721 shares during the period. NewEdge Wealth LLC’s holdings in Monster Beverage were worth $2,294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MNST. Massachusetts Financial Services Co. MA boosted its position in Monster Beverage by 7,360.7% in the fourth 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 last quarter. State Street Corp boosted its stake in Monster Beverage by 8.0% in the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock valued at $2,538,872,000 after acquiring an additional 2,789,273 shares during the last quarter. Vanguard Group Inc. boosted its stake in Monster Beverage by 3.2% in the third quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock valued at $4,542,320,000 after acquiring an additional 2,122,685 shares during the last quarter. Capital Research Global Investors boosted its stake in Monster Beverage by 71.4% in the third quarter. Capital Research Global Investors now owns 5,033,066 shares of the company’s stock valued at $338,765,000 after acquiring an additional 2,096,575 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Monster Beverage by 262.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,327,626 shares of the company’s stock valued at $178,459,000 after acquiring an additional 1,684,752 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Down 0.6%

MNST opened at $85.87 on Wednesday. The company has a 50 day moving average of $76.14 and a 200 day moving average of $76.29. The company has a market cap of $83.98 billion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 2.92 and a beta of 0.50. Monster Beverage Corporation has a 12 month low of $58.09 and a 12 month high of $88.77.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. Monster Beverage’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. Research analysts forecast that Monster Beverage Corporation will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MNST shares. Rothschild & Co Redburn upgraded shares of Monster Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the company from $76.00 to $90.00 in a research note on Wednesday, May 6th. BNP Paribas Exane upgraded shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 target price on the stock in a research note on Friday, January 16th. Citigroup upped their price target on Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Jefferies Financial Group set a $100.00 price target on Monster Beverage in a research report on Wednesday, March 11th. Finally, Bank of America dropped their price target on Monster Beverage from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.37.

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.