State of Alaska Department of Revenue Purchases 65,514 Shares of Monster Beverage Corporation $MNST

State of Alaska Department of Revenue grew its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 93.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 135,468 shares of the company’s stock after purchasing an additional 65,514 shares during the quarter. State of Alaska Department of Revenue’s holdings in Monster Beverage were worth $5,638,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Ninety One North America Inc. boosted its holdings in Monster Beverage by 87.7% in the third quarter. Ninety One North America Inc. now owns 855,485 shares of the company’s stock worth $35,605,000 after purchasing an additional 399,636 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in Monster Beverage by 149.5% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 12,420 shares of the company’s stock valued at $517,000 after buying an additional 7,443 shares in the last quarter. WealthPlan Investment Management LLC raised its holdings in Monster Beverage by 118.1% during the third quarter. WealthPlan Investment Management LLC now owns 11,239 shares of the company’s stock valued at $468,000 after buying an additional 6,085 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Monster Beverage by 50.4% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,544,157 shares of the company’s stock worth $64,268,000 after buying an additional 517,216 shares during the last quarter. Finally, William Allan Corp lifted its position in shares of Monster Beverage by 99.8% in the third quarter. William Allan Corp now owns 71,822 shares of the company’s stock worth $2,989,000 after buying an additional 35,875 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.9%

Monster Beverage stock traded up $0.39 during trading hours on Friday, hitting $45.73. The stock had a trading volume of 12,345,237 shares, compared to its average volume of 10,027,700. The company has a 50-day moving average of $44.70 and a two-hundred day moving average of $44.10. The company has a market cap of $89.59 billion, a PE ratio of 42.34, a price-to-earnings-growth ratio of 2.81 and a beta of 0.49. Monster Beverage Corporation has a fifty-two week low of $32.94 and a fifty-two week high of $50.17.

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

Analyst Ratings Changes

MNST has been the topic of a number of analyst reports. 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 report on Monday, September 28th. BMO Capital Markets restated a “market perform” rating and issued a $47.50 target price (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Stifel Nicolaus lifted their price target on shares of Monster Beverage from $45.00 to $52.50 and gave the company a “buy” rating in a research report on Thursday, July 16th. Piper Sandler boosted their price objective on shares of Monster Beverage from $47.00 to $50.50 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Zacks Research raised shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.07.

About Monster Beverage

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.