Checchi Capital Advisers LLC Boosts Stock Holdings in Monster Beverage Corp (NASDAQ:MNST)

Checchi Capital Advisers LLC raised its holdings in Monster Beverage Corp (NASDAQ:MNST) by 53.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,624 shares of the company’s stock after purchasing an additional 2,991 shares during the period. Checchi Capital Advisers LLC’s holdings in Monster Beverage were worth $501,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rational Advisors LLC lifted its position in Monster Beverage by 242.7% during the third quarter. Rational Advisors LLC now owns 27,098 shares of the company’s stock valued at $1,573,000 after purchasing an additional 19,191 shares during the last quarter. Banco Santander S.A. lifted its position in Monster Beverage by 11.0% during the third quarter. Banco Santander S.A. now owns 61,863 shares of the company’s stock valued at $3,592,000 after purchasing an additional 6,150 shares during the last quarter. AE Wealth Management LLC lifted its position in Monster Beverage by 13.7% during the third quarter. AE Wealth Management LLC now owns 12,994 shares of the company’s stock valued at $754,000 after purchasing an additional 1,567 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Monster Beverage by 2.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 922,307 shares of the company’s stock valued at $53,549,000 after purchasing an additional 18,913 shares during the last quarter. Finally, Boston Advisors LLC lifted its position in Monster Beverage by 0.9% during the third quarter. Boston Advisors LLC now owns 45,404 shares of the company’s stock valued at $2,636,000 after purchasing an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 66.04% of the company’s stock.

Shares of Monster Beverage stock opened at $58.95 on Thursday. The company’s fifty day simple moving average is $56.69 and its two-hundred day simple moving average is $60.39. The company has a market cap of $31.69 billion, a P/E ratio of 32.93, a PEG ratio of 2.01 and a beta of 1.17. Monster Beverage Corp has a 12-month low of $47.74 and a 12-month high of $66.38.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.23%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 EPS. As a group, sell-side analysts expect that Monster Beverage Corp will post 2.03 EPS for the current fiscal year.

Several brokerages have issued reports on MNST. UBS Group reiterated a “sell” rating and set a $52.00 target price (down from $53.00) on shares of Monster Beverage in a research report on Thursday, August 8th. Cowen lowered shares of Monster Beverage from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $69.00 to $65.00 in a research report on Thursday, October 17th. Wells Fargo & Co dropped their target price on shares of Monster Beverage from $59.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price objective on shares of Monster Beverage from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Zacks Investment Research upgraded shares of Monster Beverage from a “sell” rating to a “hold” rating and set a $61.00 price objective for the company in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Monster Beverage currently has a consensus rating of “Hold” and an average target price of $64.93.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

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

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