Robinhood Asset Management LLC Buys Shares of 16,264 Monster Beverage Corporation $MNST

Robinhood Asset Management LLC acquired a new position in Monster Beverage Corporation (NASDAQ:MNST) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,264 shares of the company’s stock, valued at approximately $1,247,000.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Monster Beverage by 467.0% in the 2nd quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock worth $422,996,000 after buying an additional 5,641,160 shares in the last quarter. State Street Corp raised its stake in Monster Beverage by 8.0% during the 3rd quarter. State Street Corp now owns 37,719,091 shares of the company’s stock valued at $2,538,872,000 after acquiring an additional 2,789,273 shares in the last quarter. Vanguard Group Inc. boosted its position in 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 during the period. Capital Research Global Investors grew its stake in shares of Monster Beverage by 71.4% in the third quarter. Capital Research Global Investors now owns 5,033,066 shares of the company’s stock worth $338,765,000 after purchasing an additional 2,096,575 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in shares of Monster Beverage by 51.6% in the third quarter. AustralianSuper Pty Ltd now owns 3,802,322 shares of the company’s stock worth $255,934,000 after purchasing an additional 1,294,929 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 2.5%

Shares of NASDAQ MNST opened at $74.16 on Tuesday. Monster Beverage Corporation has a twelve month low of $54.73 and a twelve month high of $87.38. The firm has a 50-day moving average of $78.56 and a two-hundred day moving average of $74.62. The company has a market capitalization of $72.52 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 2.39 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.04 billion. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. As a group, research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MNST. UBS Group increased their target price on shares of Monster Beverage from $84.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. increased their price objective on shares of Monster Beverage from $79.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, February 27th. Piper Sandler raised their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Stifel Nicolaus boosted their target price on Monster Beverage from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Argus upped their target price on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average target price of $83.76.

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.