7,260 Shares in Monster Beverage Corporation $MNST Acquired by Belmont Capital LLC

Key Points

• Belmont Capital LLC has acquired a new stake in Monster Beverage Corporation, purchasing 7,260 shares valued at approximately $425,000 during the first quarter.
• Monster Beverage reported quarterly earnings of $0.52 per share, exceeding analysts' expectations and showing a revenue growth of 11.1% year-over-year.
• Several analysts have set new price targets for Monster Beverage, with Royal Bank of Canada setting a target of $68.00 and Wells Fargo rating it as "overweight" with a $73.00 price objective.

Belmont Capital LLC acquired a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,260 shares of the company's stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wayfinding Financial LLC purchased a new stake in shares of Monster Beverage during the first quarter worth approximately $29,000. Park Square Financial Group LLC acquired a new position in shares of Monster Beverage during the 4th quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after purchasing an additional 196 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Monster Beverage during the first quarter worth approximately $43,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Monster Beverage by 21.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock valued at $77,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.30% of the company's stock.

Analysts Set New Price Targets

MNST has been the subject of several research reports. TD Cowen upped their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research report on Friday, May 9th. UBS Group upped their price target on Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Royal Bank Of Canada set a $68.00 price objective on shares of Monster Beverage and gave the company an "outperform" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, Roth Mkm boosted their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Twelve investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $65.10.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded down $0.99 on Friday, hitting $62.46. The company's stock had a trading volume of 3,338,533 shares, compared to its average volume of 5,270,904. The stock has a 50 day moving average of $61.62 and a 200-day moving average of $60.05. The company has a market capitalization of $60.99 billion, a price-to-earnings ratio of 38.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.54. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $66.75.

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

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.