8 Best Beer Stocks to Buy Now

2. Monster Beverage Corporation (NASDAQ:MNST)

Number of Hedge Fund Holders: 35

Monster Energy Beverage Corporation (NASDAQ:MNST) is an American beverage company that manufactures energy drinks including Monster Energy, Relentless, and Burn. It was announced in 2022 that the beverage giant had acquired the CANarchy Craft Brewery Collective in a deal worth $330 million. The acquisition gave Monster ownership of CANarchy’s craft breweries including Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters, and Wasatch.

In Q3 of 2024, Monster Energy Beverage Corporation (NASDAQ:MNST)’s revenue increased by 1% YoY while earnings per share shrank from $0.43 to $0.4. Both figures were slightly below Wall Street’s consensus estimates. While a globalized portfolio is beneficial to most firms, it also carries its risks and Monster took a significant revenue hit from the ongoing hyperinflation in Argentina. The company has cited foreign currency exchange rates as a persistent headwind.

However, Monster Energy Beverage Corporation (NASDAQ:MNST) remains the leading energy brand in value in countries like Argentina, Brazil, and Chile, and the firm also enjoys a sizable position in the US market, positioning it well for a recovery in consumer spending. To restart the stalled sales growth, Monster has recently launched several new drink flavors including Monster Energy Ultra Vice Guava and Oskar Blues NA beer in the US, Monster Ultra Peachy Keen in Mexico, and Monster Ultra Violet in Australia, among many more. During Q3, the company also purchased approximately 11.3 million shares of its common stock for a total amount of $534.7 million.

Monster Energy Beverage Corporation (NASDAQ:MNST) was held by 35 hedge funds at the end of Q3 2024. The largest stake of around 8.3 million shares was held by Broadwood Capital, valued at over $432.78 million.