Annex Advisory Services LLC Makes New $3.76 Million Investment in Monster Beverage Co. (NASDAQ:MNST)

Annex Advisory Services LLC purchased a new stake in shares of Monster Beverage Co. (NASDAQ:MNSTFree Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 65,304 shares of the company’s stock, valued at approximately $3,762,000.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Monster Beverage in the 4th quarter valued at about $517,035,000. Wellington Management Group LLP grew its position in shares of Monster Beverage by 20.3% in the third quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock valued at $1,033,323,000 after purchasing an additional 3,296,466 shares during the last quarter. Capital Research Global Investors grew its position in shares of Monster Beverage by 40.6% in the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after purchasing an additional 3,026,657 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Monster Beverage by 143.8% during the 4th quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock worth $184,921,000 after purchasing an additional 1,893,064 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Monster Beverage by 61.5% during the 3rd quarter. William Blair Investment Management LLC now owns 3,431,785 shares of the company’s stock worth $181,713,000 after purchasing an additional 1,307,482 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded down $0.19 during trading on Wednesday, reaching $52.00. 36,709,214 shares of the stock were exchanged, compared to its average volume of 6,680,700. The firm’s 50-day moving average price is $54.36 and its 200 day moving average price is $55.91. The firm has a market cap of $54.17 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 2.18 and a beta of 0.76. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNSTGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the firm earned $0.38 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts forecast that Monster Beverage Co. will post 1.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MNST. Royal Bank of Canada increased their target price on Monster Beverage from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Redburn Atlantic started coverage on Monster Beverage in a research note on Wednesday, March 6th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Monster Beverage from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, February 26th. BMO Capital Markets decreased their price target on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Finally, Truist Financial lowered shares of Monster Beverage from a “buy” rating to a “sell” rating and cut their price objective for the company from $65.00 to $46.00 in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $61.32.

Check Out Our Latest Research Report on MNST

Monster Beverage Company Profile

(Free Report)

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.

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 Co. (NASDAQ:MNSTFree Report).

Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.