Monster Beverage Corporation $MNST Stock Acquired by Left Brain Wealth Management LLC

Left Brain Wealth Management LLC grew its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 97.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,869 shares of the company’s stock after buying an additional 50,363 shares during the quarter. Monster Beverage makes up 1.3% of Left Brain Wealth Management LLC’s portfolio, making the stock its 28th largest position. Left Brain Wealth Management LLC’s holdings in Monster Beverage were worth $4,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MNST. Johnson Financial Group Inc. acquired a new position in Monster Beverage in the 2nd quarter valued at $27,000. Jones Financial Companies Lllp bought a new position in shares of Monster Beverage in the 2nd quarter valued at $28,000. Trust Co. of Vermont acquired a new stake in Monster Beverage during the 2nd quarter worth approximately $30,000. NBH Bank bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $32,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Monster Beverage during the second quarter worth $32,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 2.1%

NASDAQ MNST opened at $47.34 on Friday. Monster Beverage Corporation has a 52 week low of $32.94 and a 52 week high of $50.17. The company has a 50-day moving average price of $44.76 and a 200-day moving average price of $43.09. The firm has a market capitalization of $92.74 billion, a P/E ratio of 43.83, a PEG ratio of 2.92 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last announced 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. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm posted $0.26 EPS. The company’s revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings lowered shares of Monster Beverage from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. BMO Capital Markets reissued a “market perform” rating and issued a $47.50 target price (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. Evercore lowered their target price on shares of Monster Beverage from $95.00 to $52.00 in a report on Thursday, October 8th. Sanford C. Bernstein reduced their price objective on shares of Monster Beverage from $95.00 to $50.00 in a research note on Sunday, August 23rd. Finally, Citigroup restated a “buy” rating on shares of Monster Beverage in a research note on Thursday, October 22nd. One equities research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.86.

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.