Bank of Montreal Can Acquires 381,308 Shares of Monster Beverage Corporation $MNST

Bank of Montreal Can increased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 66.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 958,476 shares of the company’s stock after acquiring an additional 381,308 shares during the quarter. Bank of Montreal Can owned about 0.10% of Monster Beverage worth $64,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake 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 acquiring an additional 2,122,685 shares in the last quarter. State Street Corp lifted its holdings in shares of Monster Beverage by 2.6% during the second quarter. State Street Corp now owns 34,929,818 shares of the company’s stock valued at $2,188,004,000 after purchasing an additional 900,479 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Monster Beverage by 1.5% during the second quarter. Loomis Sayles & Co. L P now owns 26,450,305 shares of the company’s stock valued at $1,656,847,000 after purchasing an additional 385,692 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Monster Beverage by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 18,680,424 shares of the company’s stock worth $1,165,292,000 after purchasing an additional 742,518 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Monster Beverage by 20.0% in the 2nd quarter. Invesco Ltd. now owns 10,983,411 shares of the company’s stock worth $688,001,000 after buying an additional 1,829,064 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 0.7%

Shares of NASDAQ MNST opened at $76.99 on Friday. The firm’s 50-day moving average price is $80.16 and its 200-day moving average price is $73.25. Monster Beverage Corporation has a 52-week low of $54.17 and a 52-week high of $87.38. The company has a market cap of $75.22 billion, a PE ratio of 39.69, a PEG ratio of 2.51 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last released 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 firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Bank of America lifted their price objective on Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, December 19th. UBS Group increased their target price on Monster Beverage from $84.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. Evercore lifted their price target on Monster Beverage from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Wells Fargo & Company upped their price target on shares of Monster Beverage from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Stifel Nicolaus increased their price objective on shares of Monster Beverage from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and an average price target of $84.14.

About Monster Beverage

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.