125,029 Shares in Monster Beverage Corporation $MNST Bought by Jain Global LLC

Jain Global LLC purchased a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 125,029 shares of the company’s stock, valued at approximately $8,416,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Monster Beverage by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after acquiring an additional 2,122,685 shares in the last quarter. State Street Corp grew its position in shares of Monster Beverage by 2.6% during the 2nd quarter. State Street Corp now owns 34,929,818 shares of the company’s stock valued at $2,188,004,000 after acquiring an additional 900,479 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Monster Beverage by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 26,450,305 shares of the company’s stock valued at $1,656,847,000 after purchasing an additional 385,692 shares in the last quarter. Invesco Ltd. raised its holdings in Monster Beverage by 6.3% in the 3rd quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock worth $785,885,000 after purchasing an additional 692,192 shares during the period. Finally, Ninety One UK Ltd raised its holdings in Monster Beverage by 11.3% in the 3rd quarter. Ninety One UK Ltd now owns 9,957,835 shares of the company’s stock worth $670,262,000 after purchasing an additional 1,013,356 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $77.05 on Tuesday. Monster Beverage Corporation has a one year low of $54.73 and a one year high of $87.38. The business has a 50-day simple moving average of $80.20 and a 200-day simple moving average of $73.62. The company has a market cap of $75.28 billion, a PE ratio of 39.72, a P/E/G ratio of 2.49 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company posted $0.39 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, sell-side analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MNST has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on Monster Beverage from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 27th. Royal Bank Of Canada increased their price objective on shares of Monster Beverage from $83.00 to $88.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Argus raised their target price on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Piper Sandler boosted their target price on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, Evercore upped their price target on Monster Beverage from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.95.

Monster Beverage Profile

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.