Monster Beverage Corporation $MNST Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 101.7% during the fourth quarter, HoldingsChannel reports. The firm owned 21,766 shares of the company’s stock after purchasing an additional 10,974 shares during the quarter. Independent Advisor Alliance’s holdings in Monster Beverage were worth $1,669,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Monster Beverage by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 67,980,692 shares of the company’s stock worth $5,212,080,000 after purchasing an additional 497,108 shares in the last quarter. State Street Corp lifted its position in shares of Monster Beverage by 8.0% during the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock worth $2,538,872,000 after purchasing an additional 2,789,273 shares in the last quarter. Invesco Ltd. lifted its position in shares of Monster Beverage by 6.3% during the third 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 in the last quarter. Schroder Investment Management Group lifted its position in shares of Monster Beverage by 12.2% during the third quarter. Schroder Investment Management Group now owns 8,175,683 shares of the company’s stock worth $547,444,000 after purchasing an additional 891,804 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Monster Beverage by 1.2% during the third quarter. Northern Trust Corp now owns 7,867,341 shares of the company’s stock worth $529,551,000 after purchasing an additional 95,919 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

Monster Beverage stock opened at $85.82 on Friday. The company has a 50-day simple moving average of $76.38 and a 200-day simple moving average of $76.52. The firm has a market capitalization of $83.93 billion, a P/E ratio of 41.46, a P/E/G ratio of 2.83 and a beta of 0.50. Monster Beverage Corporation has a one year low of $58.09 and a one year high of $88.77.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. Monster Beverage’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, sell-side analysts forecast that Monster Beverage Corporation will post 2.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Monster Beverage from $85.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Jefferies Financial Group set a $100.00 price target on shares of Monster Beverage in a report on Wednesday, March 11th. Piper Sandler upped their price target on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Rothschild & Co Redburn raised shares of Monster Beverage from a “neutral” rating to a “buy” rating and upped their price target for the company from $76.00 to $90.00 in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.37.

About Monster Beverage

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.