IFP Advisors Inc Buys 7,085 Shares of Monster Beverage Corporation $MNST

IFP Advisors Inc boosted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 154.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,683 shares of the company’s stock after purchasing an additional 7,085 shares during the quarter. IFP Advisors Inc’s holdings in Monster Beverage were worth $796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Physician Wealth Advisors Inc. increased its holdings in shares of Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after purchasing an additional 315 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Monster Beverage during the third quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. boosted its stake in Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after buying an additional 415 shares during the last quarter. First Horizon Corp purchased a new position in Monster Beverage during the 3rd quarter valued at approximately $29,000. Finally, Armstrong Advisory Group Inc. grew its holdings in Monster Beverage by 49.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock valued at $30,000 after buying an additional 146 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

MNST has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Morgan Stanley reissued an “overweight” rating and issued a $96.00 target price (up from $87.00) on shares of Monster Beverage in a report on Monday, January 26th. Jefferies Financial Group boosted their price target on shares of Monster Beverage from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. upped their price target 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 increased their price objective on shares of Monster Beverage from $80.00 to $88.00 and gave the company a “hold” rating in a research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.95.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $73.96 on Tuesday. The stock has a market cap of $72.26 billion, a price-to-earnings ratio of 38.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.44. The stock has a 50 day moving average price of $80.00 and a 200-day moving average price of $74.03. Monster Beverage Corporation has a one year low of $54.73 and a one year high of $87.38.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.Monster Beverage’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. Sell-side analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

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.