Monster Beverage Corporation $MNST Stock Acquired by Novem Group

Novem Group increased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 96.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 31,857 shares of the company’s stock after buying an additional 15,610 shares during the quarter. Novem Group’s holdings in Monster Beverage were worth $1,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Monster Beverage during the second quarter valued at approximately $5,770,004,000. Ninety One UK Ltd raised its holdings in shares of Monster Beverage by 89.1% in the 3rd quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock worth $545,444,000 after buying an additional 6,175,047 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Monster Beverage by 0.8% in the 1st quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock worth $908,102,000 after buying an additional 99,168 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Monster Beverage by 23.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock worth $553,414,000 after buying an additional 1,461,167 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Monster Beverage by 27.8% during the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock worth $717,629,000 after buying an additional 1,624,416 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ MNST traded up $1.07 during mid-day trading on Monday, hitting $46.80. 10,230,849 shares of the stock were exchanged, compared to its average volume of 11,204,926. The company has a market cap of $91.68 billion, a P/E ratio of 43.33, a PEG ratio of 2.84 and a beta of 0.49. The stock’s fifty day simple moving average is $44.72 and its two-hundred day simple moving average is $44.23. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17.

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

Analysts Set New Price Targets

Several brokerages recently commented on MNST. JPMorgan Chase & Co. boosted their price target on Monster Beverage from $83.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Jefferies Financial Group lowered their price target on Monster Beverage from $108.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Zacks Research raised Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. Finally, Citigroup restated a “buy” rating on shares of Monster Beverage in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.07.

About Monster Beverage

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.