Sirios Capital Management L P Makes New $2.59 Million Investment in Monster Beverage Corporation $MNST

by · The Markets Daily

Sirios Capital Management L P acquired a new position in Monster Beverage Corporation (NASDAQ:MNST – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 38,540 shares of the company’s stock, valued at approximately $2,594,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MNST. Vanguard Group Inc. boosted its position in shares of Monster Beverage by 3.2% during 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 in the last quarter. State Street Corp increased its holdings in Monster Beverage by 2.6% in the second quarter. State Street Corp now owns 34,929,818 shares of the company’s stock worth $2,188,004,000 after purchasing an additional 900,479 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Monster Beverage by 1.5% in the second quarter. Loomis Sayles & Co. L P now owns 26,450,305 shares of the company’s stock worth $1,656,847,000 after purchasing an additional 385,692 shares in the last quarter. Invesco Ltd. lifted its stake in Monster Beverage by 6.3% in the third quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock valued at $785,885,000 after buying an additional 692,192 shares during the period. Finally, Ninety One UK Ltd boosted its holdings in shares of Monster Beverage by 11.3% during the 3rd quarter. Ninety One UK Ltd now owns 9,957,835 shares of the company’s stock worth $670,262,000 after buying an additional 1,013,356 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Up 0.2%

Shares of MNST opened at $77.11 on Friday. The business’s fifty day moving average is $80.18 and its 200 day moving average is $73.36. Monster Beverage Corporation has a 12-month low of $54.22 and a 12-month high of $87.38. The stock has a market cap of $75.34 billion, a P/E ratio of 39.75, a P/E/G ratio of 2.49 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST – Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the business posted $0.39 EPS. Monster Beverage’s quarterly revenue was up 17.6% on a year-over-year basis. On average, analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MNST. Royal Bank Of Canada raised their price objective on shares of Monster Beverage from $83.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. UBS Group increased their target price on shares of Monster Beverage from $84.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. raised their price target on shares of Monster Beverage from $79.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. Wells Fargo & Company lifted their price target on shares of Monster Beverage from $86.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Finally, Evercore upped their price objective on shares of Monster Beverage from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, February 23rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and an average target price of $84.14.

Check Out Our Latest Analysis on MNST

About Monster Beverage

(Free Report)

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.

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