Monster Beverage Corporation $MNST Stock Holdings Cut by Alliancebernstein L.P.

Alliancebernstein L.P. cut its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 13.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 30,106,288 shares of the company’s stock after selling 4,714,821 shares during the quarter. Monster Beverage accounts for 0.6% of Alliancebernstein L.P.’s portfolio, making the stock its 21st largest position. Alliancebernstein L.P. owned about 3.08% of Monster Beverage worth $2,026,454,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in Monster Beverage by 222.4% during the third quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock worth $3,385,000 after buying an additional 34,697 shares in the last quarter. Prudential PLC increased its holdings in shares of Monster Beverage by 76.4% in the second quarter. Prudential PLC now owns 108,930 shares of the company’s stock valued at $6,823,000 after buying an additional 47,165 shares in the last quarter. VestGen Advisors LLC increased its holdings in shares of Monster Beverage by 449.4% in the second quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock valued at $1,376,000 after buying an additional 17,974 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Monster Beverage by 87.8% during the 3rd quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock valued at $2,163,000 after acquiring an additional 15,029 shares during the last quarter. Finally, ABN AMRO Bank N.V. acquired a new stake in shares of Monster Beverage during the 3rd quarter valued at $59,170,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.2%

Shares of Monster Beverage stock opened at $77.11 on Friday. 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 PE ratio of 39.75, a price-to-earnings-growth ratio of 2.49 and a beta of 0.44. The business 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 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. Monster Beverage’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Monster Beverage from $83.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. BMO Capital Markets reaffirmed a “market perform” rating and set a $73.00 target price (up from $53.00) on shares of Monster Beverage in a report on Wednesday, December 3rd. Citigroup increased their price target on Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. lifted their price target on Monster Beverage from $79.00 to $81.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. Finally, Morgan Stanley restated an “overweight” rating and set a $96.00 price objective (up from $87.00) on shares of Monster Beverage in a report on Monday, January 26th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Monster Beverage Profile

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.