Montrusco Bolton Investments Inc. Acquires 1,294,819 Shares of Monster Beverage Corporation $MNST

by · The Markets Daily

Montrusco Bolton Investments Inc. grew its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 61.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,408,610 shares of the company’s stock after purchasing an additional 1,294,819 shares during the period. Monster Beverage makes up about 2.3% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 18th biggest holding. Montrusco Bolton Investments Inc. owned about 0.17% of Monster Beverage worth $141,866,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its stake in Monster Beverage by 6.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 197,899 shares of the company’s stock valued at $15,173,000 after purchasing an additional 12,050 shares in the last quarter. Oxbow Advisors LLC raised its holdings in shares of Monster Beverage by 70.7% in the first quarter. Oxbow Advisors LLC now owns 85,814 shares of the company’s stock worth $6,218,000 after buying an additional 35,528 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Monster Beverage by 2,304.9% in the first quarter. Whittier Trust Co. now owns 231,852 shares of the company’s stock worth $17,194,000 after buying an additional 222,211 shares during the last quarter. Swedbank AB lifted its stake in shares of Monster Beverage by 19.6% during the first quarter. Swedbank AB now owns 472,529 shares of the company’s stock worth $34,239,000 after buying an additional 77,485 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Monster Beverage by 6.5% during the fourth quarter. Hsbc Holdings PLC now owns 1,236,988 shares of the company’s stock worth $94,887,000 after buying an additional 75,535 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Down 1.0%

Shares of Monster Beverage stock traded down $0.45 during trading hours on Tuesday, reaching $43.31. The stock had a trading volume of 7,847,857 shares, compared to its average volume of 11,203,195. The stock’s 50 day moving average is $44.86 and its 200 day moving average is $43.92. The firm has a market capitalization of $84.85 billion, a PE ratio of 40.10, a PEG ratio of 2.85 and a beta of 0.49. Monster Beverage Corporation has a twelve month low of $32.94 and a twelve month high of $50.17.

Monster Beverage (NASDAQ:MNST – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. As a group, sell-side analysts predict that Monster Beverage Corporation will post 1.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MNST. Morgan Stanley upped their target price on Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Sanford C. Bernstein lowered their price target on Monster Beverage from $95.00 to $50.00 in a research report on Sunday, August 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. Evercore dropped their price target on Monster Beverage from $95.00 to $52.00 in a research note on Thursday, October 8th. Finally, BNP Paribas Exane reissued a “neutral” rating and issued a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a report on Monday, September 28th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $74.07.

Get Our Latest Analysis on MNST

Monster Beverage Company Profile

(Free Report)

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company’s portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.

Read More

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST – Free Report).