Contravisory Investment Management Inc. Takes Position in Monster Beverage Corporation $MNST

Contravisory Investment Management Inc. bought a new stake in Monster Beverage Corporation (NASDAQ:MNST) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,957 shares of the company’s stock, valued at approximately $687,000.

Other large investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its position in Monster Beverage by 508.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after buying an additional 315 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Monster Beverage in the third quarter worth about $27,000. Harbor Investment Advisory LLC boosted its holdings in Monster Beverage by 136.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after purchasing an additional 205 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in Monster Beverage during the 3rd quarter valued at approximately $29,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Up 0.4%

MNST stock opened at $73.96 on Tuesday. The firm has a market cap of $72.26 billion, a P/E ratio of 38.12, a P/E/G ratio of 2.38 and a beta of 0.44. Monster Beverage Corporation has a 12-month low of $54.73 and a 12-month high of $87.38. The stock’s 50 day simple moving average is $80.00 and its 200 day simple moving average is $74.03.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping 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 firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis. On average, research analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MNST. UBS Group upped their target price on Monster Beverage from $84.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, February 27th. Zacks Research downgraded shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Evercore upped their price target 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. JPMorgan Chase & Co. increased their price objective on shares of Monster Beverage from $79.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Finally, TD Cowen raised their price objective on shares of Monster Beverage from $80.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.95.

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.