Bayforest Capital Ltd Grows Stock Holdings in Monster Beverage Corporation $MNST

Key Points

• Bayforest Capital Ltd increased its ownership in Monster Beverage Corporation by 509.4% in Q2, totaling 12,962 shares valued at approximately $812,000.
• Monster Beverage reported a quarterly earnings per share (EPS) of $0.52, surpassing analyst expectations of $0.48, with revenue growing 11.1% year-over-year.
• Wall Street analysts have set varying price targets for Monster Beverage, with a consensus rating of "Hold" and an average price target of $66.05.

Bayforest Capital Ltd lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 509.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,962 shares of the company's stock after buying an additional 10,835 shares during the period. Bayforest Capital Ltd's holdings in Monster Beverage were worth $812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Monster Beverage in the 1st quarter valued at approximately $29,000. Webster Bank N. A. purchased a new position in Monster Beverage in the 2nd quarter valued at approximately $38,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after buying an additional 196 shares during the period. Banque Cantonale Vaudoise purchased a new position in Monster Beverage in the 1st quarter valued at approximately $43,000. Finally, Ameritas Advisory Services LLC purchased a new position in Monster Beverage in the 2nd quarter valued at approximately $55,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Stock Performance

NASDAQ MNST opened at $67.15 on Tuesday. The firm has a market cap of $65.57 billion, a PE ratio of 41.71, a P/E/G ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $70.06. The firm's fifty day moving average is $64.45 and its two-hundred day moving average is $62.07.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating 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 company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the business posted $0.41 earnings per share. Monster Beverage's quarterly revenue was up 11.1% on a year-over-year basis. Research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were 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 $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the stock an "overweight" rating in a research report on Friday, August 8th. Royal Bank Of Canada lifted their price objective on shares of Monster Beverage from $68.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday. UBS Group lifted their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 8th. Citigroup reaffirmed a "buy" rating and set a $79.00 price objective (up from $76.00) on shares of Monster Beverage in a research report on Thursday. Finally, Morgan Stanley boosted their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $66.05.

About Monster Beverage

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.

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