Arrowstreet Capital Limited Partnership Has $357.76 Million Stock Holdings in Monster Beverage Corporation $MNST

Arrowstreet Capital Limited Partnership cut its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 15.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,315,132 shares of the company’s stock after selling 991,378 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.54% of Monster Beverage worth $357,762,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Monster Beverage in the second quarter worth approximately $544,584,000. Schroder Investment Management Group lifted its stake in shares of Monster Beverage by 4,877.8% in the 2nd 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 last quarter. AQR Capital Management LLC boosted its stake in shares of Monster Beverage by 467.0% during the 2nd quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock worth $422,996,000 after acquiring an additional 5,641,160 shares in the last quarter. Vanguard Group Inc. boosted its position in Monster Beverage by 3.2% during the third quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after purchasing an additional 2,122,685 shares during the period. Finally, Capital Research Global Investors grew its stake in Monster Beverage by 71.4% in the 3rd quarter. Capital Research Global Investors now owns 5,033,066 shares of the company’s stock valued at $338,765,000 after buying an additional 2,096,575 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $96.00 target price (up from $87.00) on shares of Monster Beverage in a report on Monday, January 26th. BNP Paribas Exane raised shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target on the stock in a report on Friday, January 16th. Piper Sandler raised their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” 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 report on Monday, January 5th. Finally, Wells Fargo & Company upped their target price 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. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Monster Beverage Stock Down 0.7%

Shares of NASDAQ MNST opened at $76.99 on Friday. Monster Beverage Corporation has a 12-month low of $54.17 and a 12-month high of $87.38. The firm’s 50-day simple moving average is $80.16 and its 200 day simple moving average is $73.25. The company has a market cap of $75.22 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 2.51 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data 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. The firm had revenue of $2.10 billion during 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 company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS. On average, equities analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Monster Beverage Company 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.