19,682 Shares in Monster Beverage Corporation $MNST Acquired by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB bought a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,682 shares of the company’s stock, valued at approximately $1,509,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in shares of Monster Beverage by 397.9% during the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock worth $890,000 after buying an additional 12,148 shares during the period. Sivia Capital Partners LLC raised its stake in Monster Beverage by 247.7% during the second quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after buying an additional 9,251 shares during the last quarter. MAI Capital Management lifted its holdings in Monster Beverage by 41.9% in the second quarter. MAI Capital Management now owns 4,472 shares of the company’s stock valued at $280,000 after buying an additional 1,321 shares during the period. Journey Strategic Wealth LLC acquired a new position in Monster Beverage in the second quarter valued at $244,000. Finally, American Century Companies Inc. boosted its position in Monster Beverage by 137.2% during the second quarter. American Century Companies Inc. now owns 204,133 shares of the company’s stock valued at $12,787,000 after acquiring an additional 118,088 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Down 1.3%

Shares of Monster Beverage stock opened at $73.00 on Wednesday. Monster Beverage Corporation has a 52 week low of $54.73 and a 52 week high of $87.38. The business has a 50 day moving average price of $79.89 and a 200-day moving average price of $74.11. The company has a market cap of $71.32 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 2.39 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) 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 company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter 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. As a group, research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of recent analyst reports. Bank of America increased their price target on Monster Beverage from $77.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Wells Fargo & Company cut their target price on Monster Beverage from $94.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Royal Bank Of Canada raised their target price on Monster Beverage from $83.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Piper Sandler lifted their target price on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, BNP Paribas Exane raised Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target on the stock in a research note on Friday, January 16th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and an average price target of $83.95.

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.