Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc increased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 73.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 77,073 shares of the company’s stock after purchasing an additional 32,742 shares during the period. Marks Group Wealth Management Inc’s holdings in Monster Beverage were worth $4,021,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ninety One UK Ltd grew its stake in shares of Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after acquiring an additional 3,620,436 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Monster Beverage by 1,148.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after purchasing an additional 2,388,798 shares during the last quarter. AMF Tjanstepension AB acquired a new position in Monster Beverage during the 2nd quarter valued at approximately $81,757,000. TD Asset Management Inc raised its holdings in shares of Monster Beverage by 41.1% in the first quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock worth $268,465,000 after buying an additional 1,318,890 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock worth $288,082,000 after buying an additional 1,234,718 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Up 0.1 %

Shares of MNST stock opened at $54.11 on Wednesday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a market cap of $53.00 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.37 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The stock has a 50 day simple moving average of $51.25 and a 200-day simple moving average of $50.97.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 earnings per share. On average, equities research analysts expect that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

MNST has been the topic of several research reports. Bank of America upped their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised their price objective on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday. Jefferies Financial Group dropped their target price on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. UBS Group increased their price target on shares of Monster Beverage from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.79.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.