Monster Beverage Corporation $MNST Shares Purchased by Brighton Jones LLC

Brighton Jones LLC boosted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 98.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,322 shares of the company’s stock after purchasing an additional 11,598 shares during the period. Brighton Jones LLC’s holdings in Monster Beverage were worth $971,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MNST. BlackRock Inc. purchased a new position in shares of Monster Beverage in the 2nd quarter worth $5,770,004,000. Bank of America Corp DE acquired a new position in Monster Beverage in the second quarter valued at $1,195,360,000. Wellington Management Group LLP grew its position in Monster Beverage by 27.8% during the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock valued at $717,629,000 after acquiring an additional 1,624,416 shares during the period. Jupiter Topco LLC purchased a new stake in Monster Beverage during the second quarter valued at about $593,075,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Monster Beverage by 23.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after acquiring an additional 1,461,167 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.1%

Shares of NASDAQ:MNST opened at $45.40 on Thursday. Monster Beverage Corporation has a 52-week low of $35.03 and a 52-week high of $50.17. The company has a 50 day moving average of $44.68 and a two-hundred day moving average of $43.37. The company has a market capitalization of $88.87 billion, a price-to-earnings ratio of 39.60, a price-to-earnings-growth ratio of 2.98 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, November 5th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Monster Beverage had a net margin of 22.66% and a return on equity of 24.99%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 earnings per share. On average, equities analysts anticipate that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $55.00 price objective on shares of Monster Beverage in a report on Friday, November 6th. Piper Sandler lifted their price objective on Monster Beverage from $50.50 to $53.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Morgan Stanley increased their target price on shares of Monster Beverage from $103.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. BMO Capital Markets restated a “market perform” rating and issued a $47.00 price target on shares of Monster Beverage in a report on Monday. Finally, Deutsche Bank reaffirmed a “hold” rating and set a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.07.

Monster Beverage Profile

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages. The company traces its roots to Hansen’s, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012. Based in Corona, California, Monster sells its products in the United States and internationally.