Monster Beverage (MNST) Shares Outperformed Due to Better than Expected Organic Growth

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The second quarter witnessed a poor overall performance of mid-cap stocks. The Russell Midcap Growth Index was down 21.07% and fell more compared to its counterpart Russell Midcap Value Index (down 14.68%). In the quarter, all sector returns were negative for the Russell Midcap Growth Index due to market volatility. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers discussed stocks like Monster Beverage Corporation (NASDAQ:MNST) in its second quarter 2022 investor letter. Headquartered in Corona, California, Monster Beverage Corporation (NASDAQ:MNST) engages in the business of energy drink beverages and concentrates. On September 2, 2022, Monster Beverage Corporation (NASDAQ:MNST) stock closed at $88.39 per share. One-month return of Monster Beverage Corporation (NASDAQ:MNST) was -1.16% and its shares lost 9.42% of their value over the last 52 weeks. Monster Beverage Corporation (NASDAQ:MNST) has a market capitalization of $46.571 billion

Here is what Carillon Tower Advisers specifically said about Monster Beverage Corporation (NASDAQ:MNST):

“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.”

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Monster Beverage Corporation (NASDAQ:MNST) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Monster Beverage Corporation (NASDAQ:MNST) was held by 46 hedge fund portfolios at the end of the second quarter compared to 48 in the previous quarter.

We discussed Monster Beverage Corporation (NASDAQ:MNST) in another article and shared the stock picks of Bruce Kovner’s Caxton Associates. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.