47,217 Shares in Monster Beverage Corporation $MNST Bought by Element Capital Management LLC

Key Points

• Element Capital Management LLC acquired 47,217 shares of Monster Beverage Corporation for approximately $2.76 million during the first quarter, contributing to increased institutional ownership in the company.
• Monster Beverage's latest earnings report revealed an earnings per share (EPS) of $0.52, beating expectations and showing an 11.1% year-over-year revenue rise with total revenue at $2.11 billion.
• Analysts have varied opinions on the stock with two sell ratings, eight hold ratings, and twelve buy ratings, and the average price target set at $65.10.

Element Capital Management LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 47,217 shares of the company's stock, valued at approximately $2,763,000.

Several other hedge funds also recently modified their holdings of MNST. Federated Hermes Inc. boosted its stake in shares of Monster Beverage by 37.9% during the 4th quarter. Federated Hermes Inc. now owns 5,094 shares of the company's stock worth $268,000 after purchasing an additional 1,399 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Monster Beverage by 13.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 36,507 shares of the company's stock worth $1,922,000 after purchasing an additional 4,201 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of Monster Beverage during the 4th quarter worth about $204,000. Mariner LLC boosted its position in shares of Monster Beverage by 4.0% in the fourth quarter. Mariner LLC now owns 141,646 shares of the company's stock worth $7,445,000 after acquiring an additional 5,409 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Monster Beverage by 1.9% in the fourth quarter. CreativeOne Wealth LLC now owns 11,838 shares of the company's stock valued at $622,000 after purchasing an additional 217 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Up 0.7%

Shares of NASDAQ MNST traded up $0.47 during trading on Wednesday, reaching $64.46. 1,413,700 shares of the stock were exchanged, compared to its average volume of 6,157,191. The business's 50-day moving average price is $61.65 and its 200 day moving average price is $58.80. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $66.75. The company has a market capitalization of $62.94 billion, a price-to-earnings ratio of 40.05, a price-to-earnings-growth ratio of 2.10 and a beta of 0.55.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.08 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MNST shares. UBS Group boosted their target price on shares of Monster Beverage from $64.00 to $67.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Citigroup boosted their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the company a "buy" rating in a report on Friday, August 8th. CICC Research upgraded shares of Monster Beverage from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $56.00 to $65.00 in a report on Monday, May 12th. Truist Financial boosted their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus started coverage on shares of Monster Beverage in a report on Thursday, June 12th. They issued a "buy" rating and a $72.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.10.

Insiders Place Their Bets

In other news, CFO Thomas J. Kelly sold 27,000 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the transaction, the chief financial officer directly owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.80% of the company's stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.