5 Best Coffee Stocks to Invest In

3. Monster Beverage Corporation (NASDAQ:MNST)

Number of Hedge Fund Holders: 45

Monster Beverage Corporation (NASDAQ:MNST) ranks 3rd on the list of 10 best coffee stocks to invest in. The California-based beverage company manufactures energy drinks, through its brands such as Monster Energy, Muscle Monster, Mega Monster, and its coffee brand Java Monster.

On August 3rd, Deutsche Bank analyst Steve Powers raised Monster Beverage Corporation’s (NASDAQ:MNST) price target to $108 from $105 per share and kept his Buy rating on the stock. On July 23rd, the stock was also upgraded by Citi analyst Wendy Nicholson to a Buy rating from a Neutral rating with a $110 price target. 

The company has a market cap of $49.35 billion. In the first quarter of 2021, Monster Beverage Corporation (NASDAQ:MNST) reported an EPS of $0.59, missing estimates by $0.02. However, the company’s first-quarter revenue was $1.24 billion, beating revenue estimates by $0.02 billion. Shares of MNST jumped 19% over the last twelve months.

There were 45 hedge funds that reported owning stakes in Monster Beverage Corporation (NASDAQ:MNST) at the end of the first quarter. The total value of these stakes at the end of Q1 is $2.38 billion.