Monster Beverage Corporation $MNST Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 50.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,758 shares of the company’s stock after purchasing an additional 19,153 shares during the quarter. Park Avenue Securities LLC’s holdings in Monster Beverage were worth $2,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new position in Monster Beverage in the 2nd quarter valued at about $27,000. Jones Financial Companies Lllp purchased a new position in Monster Beverage in the 2nd quarter valued at about $28,000. Trust Co. of Vermont acquired a new stake in shares of Monster Beverage during the 2nd quarter worth about $30,000. NBH Bank acquired a new stake in shares of Monster Beverage during the 2nd quarter worth about $32,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Monster Beverage during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ MNST opened at $47.34 on Friday. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17. The company’s 50 day moving average price is $44.76 and its 200 day moving average price is $43.09. The firm has a market capitalization of $92.74 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 2.98 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the company posted $0.26 earnings per share. Monster Beverage’s revenue was up 20.2% compared to the same quarter last year. Sell-side analysts forecast that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

Analyst Ratings Changes

MNST has been the subject of a number of recent research reports. Zacks Research upgraded shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. UBS Group upped their price objective on shares of Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a research note on Friday, August 7th. Evercore cut their price target on Monster Beverage from $95.00 to $52.00 in a report on Thursday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $48.50 target price (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Monster Beverage from $106.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.86.

Monster Beverage Company Profile

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.