Ninety One North America Inc. Purchases 399,636 Shares of Monster Beverage Corporation $MNST

Ninety One North America Inc. increased its position in Monster Beverage Corporation (NASDAQ:MNST) by 87.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 855,485 shares of the company’s stock after acquiring an additional 399,636 shares during the period. Monster Beverage comprises approximately 1.8% of Ninety One North America Inc.’s holdings, making the stock its 20th largest position. Ninety One North America Inc.’s holdings in Monster Beverage were worth $35,605,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MNST. CI Investments Inc. grew its holdings in shares of Monster Beverage by 3.5% during the first quarter. CI Investments Inc. now owns 3,497 shares of the company’s stock worth $253,000 after purchasing an additional 119 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of Monster Beverage by 2.8% in the 1st quarter. Root Financial Partners LLC now owns 4,981 shares of the company’s stock valued at $361,000 after purchasing an additional 137 shares during the last quarter. Wealth Alliance LLC lifted its holdings in shares of Monster Beverage by 2.2% in the 1st quarter. Wealth Alliance LLC now owns 6,752 shares of the company’s stock valued at $489,000 after purchasing an additional 148 shares during the last quarter. CX Institutional boosted its position in shares of Monster Beverage by 2.4% in the 2nd quarter. CX Institutional now owns 6,384 shares of the company’s stock valued at $614,000 after purchasing an additional 148 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in shares of Monster Beverage by 1.0% in the 1st quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company’s stock valued at $1,275,000 after purchasing an additional 175 shares during the period. 72.36% of the stock is owned by institutional investors.

Monster Beverage Stock Performance

Monster Beverage stock traded up $0.85 during mid-day trading on Thursday, reaching $45.07. 4,829,477 shares of the company were exchanged, compared to its average volume of 11,169,418. The firm’s 50-day simple moving average is $44.72 and its two-hundred day simple moving average is $44.02. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17. The firm has a market cap of $88.29 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 2.69 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last released 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The company’s revenue for the quarter 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 anticipate that Monster Beverage Corporation will post 1.16 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Evercore cut their target price on shares of Monster Beverage from $95.00 to $52.00 in a report on Thursday, October 8th. Stifel Nicolaus lifted their target price on shares of Monster Beverage from $45.00 to $52.50 and gave the company a “buy” rating in a report on Thursday, July 16th. TD Cowen increased their price target on shares of Monster Beverage from $45.00 to $47.50 and gave the stock a “hold” rating in a research note on Wednesday, July 8th. Finally, BNP Paribas Exane reissued a “neutral” rating and set a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $74.07.

Monster Beverage Profile

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company’s portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.