Novem Group Acquires 15,610 Shares of Monster Beverage Corporation $MNST

Novem Group increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 96.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 31,857 shares of the company’s stock after purchasing an additional 15,610 shares during the period. Novem Group’s holdings in Monster Beverage were worth $1,326,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MNST. Onyx Bridge Wealth Group LLC bought a new stake in Monster Beverage during the 3rd quarter valued at approximately $712,000. Brown Lisle Cummings Inc. increased its position in Monster Beverage by 100.0% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 1,054 shares of the company’s stock worth $44,000 after buying an additional 527 shares during the period. SteelPeak Wealth LLC increased its position in Monster Beverage by 101.6% in the 3rd quarter. SteelPeak Wealth LLC now owns 57,569 shares of the company’s stock worth $2,396,000 after buying an additional 29,014 shares during the period. IFP Advisors Inc lifted its holdings in shares of Monster Beverage by 69.2% during the third quarter. IFP Advisors Inc now owns 52,909 shares of the company’s stock worth $2,202,000 after buying an additional 21,640 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of Monster Beverage by 99.4% during the third quarter. Frank Rimerman Advisors LLC now owns 22,784 shares of the company’s stock worth $948,000 after buying an additional 11,357 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MNST. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. TD Cowen boosted their target price on shares of Monster Beverage from $45.00 to $47.50 and gave the stock a “hold” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group upped their target price on shares of Monster Beverage from $106.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Stifel Nicolaus increased their price target 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $50.50 price target on shares of Monster Beverage in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.07.

Monster Beverage Stock Up 2.3%

Shares of MNST stock traded up $1.07 during mid-day trading on Monday, reaching $46.80. The stock had a trading volume of 10,230,849 shares, compared to its average volume of 11,204,926. Monster Beverage Corporation has a one year low of $32.94 and a one year high of $50.17. The firm has a market cap of $91.68 billion, a PE ratio of 43.33, a P/E/G ratio of 2.84 and a beta of 0.49. The firm’s 50 day simple moving average is $44.72 and its 200 day simple moving average is $44.23.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data 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 analysts’ expectations of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. Monster Beverage’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. Sell-side analysts forecast that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Monster Beverage Company Profile

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.