5 Best Coffee Stocks to Invest In

3. Monster Beverage Corporation (NASDAQ:MNST)

Number of Hedge Fund Holders: 46

Monster Beverage Corporation (NASDAQ:MNST) engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. The firm is among the best coffee stocks to invest in. On August 4, the company posted earnings for the second quarter, reporting earnings per share of $0.51, missing estimates by $0.18. The revenue over the period was $1.6 billion, up over 13% compared to the revenue over the same period last year and beating estimates by $50 million. 

On August 5, UBS analyst Peter Grom maintained a Neutral rating on Monster Beverage Corporation (NASDAQ:MNST) stock and raised the price target to $99 from $94, noting the strong top line of the firm was more than offset by a lower gross margin in Q2. 

Among the hedge funds being tracked by Insider Monkey, Washington-based firm Renaissance Technologies is a leading shareholder in Monster Beverage Corporation (NASDAQ:MNST), with 5.67 million shares worth more than $524 million. 

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.”