Monster Beverage Corporation $MNST Shares Bought by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth more than doubled its Monster Beverage stake in the third quarter, purchasing 29,014 additional shares to hold 57,569 shares valued at approximately $2.4 million. Institutional investors and hedge funds collectively own 72.36% of MNST.
• Monster Beverage reported quarterly EPS of $0.60, beating estimates by $0.02, while revenue reached $2.50 billion, up 20.2% year over year. Shares opened at $45.73, with a market capitalization of roughly $89.6 billion.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating from 24 analysts and an average price target of $74.07, despite some recent target reductions.

SteelPeak Wealth LLC lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 101.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,569 shares of the company's stock after purchasing an additional 29,014 shares during the period. SteelPeak Wealth LLC's holdings in Monster Beverage were worth $2,396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MNST. Retirement Wealth Solutions LLC boosted its stake in Monster Beverage by 113.4% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock worth $25,000 after purchasing an additional 321 shares during the last quarter. Davis Capital Management boosted its position in Monster Beverage by 98.8% during the third quarter. Davis Capital Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 316 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Monster Beverage during the 2nd quarter valued at about $27,000. Jones Financial Companies Lllp purchased a new stake in Monster Beverage during the 2nd quarter valued at about $28,000. Finally, MV Capital Management Inc. acquired a new stake in Monster Beverage in the 4th quarter valued at about $30,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Price Performance

Shares of MNST opened at $45.73 on Monday. Monster Beverage Corporation has a 1-year low of $32.94 and a 1-year high of $50.17. The stock has a market cap of $89.59 billion, a PE ratio of 42.34, a P/E/G ratio of 2.84 and a beta of 0.49. The firm has a 50-day simple moving average of $44.70 and a two-hundred day simple moving average of $44.16.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The business's revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Monster Beverage from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday, October 5th. Zacks Research upgraded shares of Monster Beverage from a "hold" rating to a "strong-buy" rating in a report on Monday, October 12th. Piper Sandler increased their price target on shares of Monster Beverage from $47.00 to $50.50 and gave the company an "overweight" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $83.00 to $99.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Finally, Citigroup restated a "buy" rating on shares of Monster Beverage in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Monster Beverage currently has an average rating of "Moderate Buy" and an average price target of $74.07.

Monster Beverage Profile

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.

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