5 Best Beverage Stocks To Buy

3. Monster Beverage Corporation (NASDAQ:MNST)

Number of Hedge Fund Holders: 44

Monster Beverage Corporation (NASDAQ:MNST) is involved in the creation, promotion, sales, and global distribution of energy drink beverages and concentrates. The organization is divided into three main divisions – Finished Product, Concentrate, and Other, each handling distinct aspects of its operations. 

On April 3, Stifel analyst Mark Astrachan revised the firm’s price target for Monster Beverage Corporation (NASDAQ:MNST), lowering it from $113 to $61. This adjustment takes into account updated estimates and the completion of a 2-for-1 stock split on March 28. Despite the target adjustment, Astrachan maintained a Buy rating on the company’s shares. According to court documents, Bang, a competitor that filed for bankruptcy in October 2022, intends to sell its business. Stifel suggests that Monster Beverage Corporation (NASDAQ:MNST) is well-positioned to acquire Bang and it would have a positive impact on Monster’s earnings per share, contribute to its presence on retail shelves, and provide additional manufacturing options within the United States.

According to Insider Monkey’s fourth quarter database, 44 hedge funds were bullish on Monster Beverage Corporation (NASDAQ:MNST), compared to 39 funds in the prior quarter. Neal C. Bradsher’s Broadwood Capital is the biggest stakeholder of the company, with 4.65 million shares worth $427.8 million. 

Here is what Carillon Tower Advisers specifically said about Monster Beverage Corporation (NASDAQ:MNST) in its Q2 2022 investor letter:

“Monster Beverage Corporation (NASDAQ:MNST) develops and sells energy drinks and concentrates. The company’s shares outperformed, driven by an impressive earnings report highlighted by better than expected organic growth. Management also gave guidance that indicated a potential bottom in gross margins, as well as upcoming price increases that helped give investors confidence in its growth outlook.”