Jump Financial LLC Boosts Stake in Monster Beverage Corporation $MNST

Key Points

• Jump Financial LLC increased its holdings in Monster Beverage Corporation by 467.2%, acquiring an additional 64,767 shares in the first quarter, bringing their total shares to 78,631, valued at approximately $4.6 million.
• Monster Beverage's recent earnings report showed a quarterly revenue of $2.11 billion, exceeding analyst expectations of $2.08 billion, while EPS rose to $0.52, surpassing estimates.
• A significant number of institutional investors are showing confidence in Monster Beverage, with 72.36% of its stock owned by hedge funds and an overall consensus rating of "Hold" among analysts.

Jump Financial LLC raised its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 467.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,631 shares of the company's stock after purchasing an additional 64,767 shares during the quarter. Jump Financial LLC's holdings in Monster Beverage were worth $4,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Monster Beverage in the 1st quarter valued at approximately $29,000. Park Square Financial Group LLC purchased a new position in shares of Monster Beverage in the 4th quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. grew its stake 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 purchasing an additional 196 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Monster Beverage in the 1st quarter valued at approximately $43,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake 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 purchasing an additional 230 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MNST. CICC Research raised Monster Beverage from a "market perform" rating to an "outperform" rating and raised their price target for the company from $56.00 to $65.00 in a report on Monday, May 12th. Bank of America raised their price target on Monster Beverage from $66.00 to $72.00 and gave the company a "buy" rating in a report on Friday, August 8th. Stifel Nicolaus began coverage on Monster Beverage in a report on Thursday, June 12th. They issued a "buy" rating and a $72.00 price target for the company. Citigroup raised their price target on Monster Beverage from $70.00 to $74.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and raised their price target for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.10.

Monster Beverage Stock Up 0.5%

Shares of NASDAQ:MNST traded up $0.29 during midday trading on Thursday, reaching $62.02. The company's stock had a trading volume of 4,328,982 shares, compared to its average volume of 7,093,673. The firm has a market cap of $60.56 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 2.02 and a beta of 0.55. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $66.75. The business has a 50 day moving average price of $61.60 and a 200 day moving average price of $59.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced 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. The business 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 business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. Sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, the director owned 51,191 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

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.