Mediolanum International Funds Ltd Has $16.89 Million Stake in Monster Beverage Co. (NASDAQ:MNST)

Mediolanum International Funds Ltd raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 932.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 322,484 shares of the company’s stock after purchasing an additional 291,257 shares during the period. Mediolanum International Funds Ltd’s holdings in Monster Beverage were worth $16,890,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MNST. DT Investment Partners LLC boosted its stake in shares of Monster Beverage by 38.6% in the 3rd quarter. DT Investment Partners LLC now owns 1,386 shares of the company’s stock worth $72,000 after buying an additional 386 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Monster Beverage by 1,148.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after buying an additional 2,388,798 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Monster Beverage by 0.9% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 49,311 shares of the company’s stock worth $2,573,000 after buying an additional 462 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Monster Beverage by 5,117.0% in the 3rd quarter. International Assets Investment Management LLC now owns 22,433 shares of the company’s stock worth $1,170,000 after buying an additional 22,003 shares during the last quarter. Finally, Greenleaf Trust boosted its stake in shares of Monster Beverage by 12.1% in the 3rd quarter. Greenleaf Trust now owns 14,670 shares of the company’s stock worth $765,000 after buying an additional 1,589 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

NASDAQ:MNST traded up $0.28 during midday trading on Friday, hitting $53.72. The company had a trading volume of 805,039 shares, compared to its average volume of 6,960,458. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The stock’s fifty day moving average price is $50.13 and its 200-day moving average price is $51.09. The company has a market capitalization of $55.96 billion, a PE ratio of 33.61, a P/E/G ratio of 2.29 and a beta of 0.74. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MNST shares. Piper Sandler lowered their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada lowered their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. UBS Group boosted their target price on shares of Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Truist Financial lowered their target price on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.68.

About Monster Beverage

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.