Defender Capital LLC. Has $19.89 Million Stock Position in Monster Beverage Corporation $MNST

Key Points

• Defender Capital LLC reduced its stake in Monster Beverage Corporation by 9.9%, now holding 317,600 shares worth approximately $19.89 million.
• Several hedge funds have recently adjusted their holdings, with institutional investors owning 72.36% of Monster Beverage's stock.
• Monster Beverage's shares have seen significant analyst activity, with ratings ranging from "buy" to "hold," and the average target price is currently set at $66.05.

Defender Capital LLC. lessened its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,600 shares of the company's stock after selling 35,025 shares during the period. Monster Beverage comprises 6.8% of Defender Capital LLC.'s holdings, making the stock its 5th largest position. Defender Capital LLC.'s holdings in Monster Beverage were worth $19,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MNST. Wayfinding Financial LLC bought a new position in shares of Monster Beverage in the 1st quarter valued at about $29,000. Webster Bank N. A. bought a new position in shares of Monster Beverage in the 2nd quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of 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 acquiring an additional 196 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Monster Beverage in the 1st quarter valued at about $43,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Monster Beverage in the 2nd quarter valued at about $55,000. Institutional investors own 72.36% of the company's stock.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director 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 at this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MNST has been the subject of several analyst reports. Redburn Atlantic cut Monster Beverage from a "strong-buy" rating to a "hold" rating and decreased their price objective for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. Roth Capital reiterated a "neutral" rating and set a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Piper Sandler upgraded Monster Beverage from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Morgan Stanley lifted their price target on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Wall Street Zen cut Monster Beverage from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Thirteen 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $66.05.

Monster Beverage Stock Down 3.5%

Shares of NASDAQ:MNST opened at $67.15 on Tuesday. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $70.06. The stock 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. The business has a 50 day moving average of $64.45 and a 200-day moving average of $62.07.

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 analysts' consensus estimates of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.08 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current 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.

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