DoubleLine ETF Adviser LP Purchases New Shares in Monster Beverage Corporation $MNST

DoubleLine ETF Adviser LP acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,481 shares of the company’s stock, valued at approximately $2,523,000.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in Monster Beverage in the second quarter worth about $544,584,000. Schroder Investment Management Group raised its position in Monster Beverage by 4,877.8% during the second quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company’s stock valued at $456,262,000 after purchasing an additional 7,137,552 shares during the period. AQR Capital Management LLC lifted its stake in shares of Monster Beverage by 467.0% in the 2nd quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock valued at $422,996,000 after purchasing an additional 5,641,160 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Monster Beverage by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock valued at $4,542,320,000 after purchasing an additional 2,122,685 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Monster Beverage by 71.4% in the 3rd 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 during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Trading Up 0.2%

NASDAQ:MNST opened at $77.11 on Friday. The company has a market cap of $75.34 billion, a price-to-earnings ratio of 39.75, a price-to-earnings-growth ratio of 2.49 and a beta of 0.44. Monster Beverage Corporation has a twelve month low of $54.22 and a twelve month high of $87.38. The stock has a fifty day simple moving average of $80.18 and a 200-day simple moving average of $73.43.

Monster Beverage (NASDAQ:MNST) last posted its quarterly 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 firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.39 earnings per share. As a group, equities research analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MNST. JPMorgan Chase & Co. increased their price target on Monster Beverage from $79.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, February 27th. Zacks Research lowered shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Evercore boosted their price objective on shares of Monster Beverage from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, BNP Paribas Exane raised shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target for the company in a research note on Friday, January 16th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.14.

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.