5 Best Coffee Stocks to Buy Now

3. Monster Beverage Corporation (NASDAQ:MNST)

Number of Hedge Fund Holders: 39   

Monster Beverage Corporation (NASDAQ:MNST) engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. It sells brewed premium coffees, creamy milk, and the Monster energy blend for a strong iced coffee energy drink. On November 15, English football club Newcastle United announced the signing of a new partnership with Monster Energy to become the club’s official energy drink partner in an undisclosed multi-year deal.

On November 29, Argus analyst John Staszak maintained a Buy rating on Monster Beverage Corporation (NASDAQ:MNST) stock and raised the price target to $118 from $113, noting that shares remain attractive despite investor concerns about rising input costs and higher freight rates.  

At the end of the third quarter of 2022, 39 hedge funds in the database of Insider Monkey held stakes worth $1.96 billion in Monster Beverage Corporation (NASDAQ:MNST), compared to 46 in the preceding quarter worth $2.4 billion. 

In its Q2 2022 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Monster Beverage Corporation (NASDAQ:MNST) was one of them. Here is what the fund said:

“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.”