Ieq Capital LLC Has $4.60 Million Stock Holdings in Monster Beverage Corporation $MNST

Key Points

• Ieq Capital LLC significantly increased its stake in Monster Beverage Corporation by 255.3% in the first quarter, owning 78,602 shares valued at approximately $4.6 million.
• Monster Beverage recently reported earnings of $0.52 per share, exceeding analysts' expectations, with revenues of $2.11 billion for the quarter, up 11.1% year-over-year.
• The stock currently has a consensus rating of "Hold" from analysts, with an average target price of $65.10, alongside several brokerages now issuing a "buy" rating.

Ieq Capital LLC boosted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 255.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,602 shares of the company's stock after buying an additional 56,482 shares during the quarter. Ieq Capital LLC's holdings in Monster Beverage were worth $4,600,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Monster Beverage in the 1st quarter valued at $29,000. Park Square Financial Group LLC acquired a new stake in Monster Beverage in the 4th quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake 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 in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Monster Beverage in the 1st quarter valued at $43,000. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in 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. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Stock Performance

Monster Beverage stock traded down $0.06 on Thursday, reaching $63.45. The company's stock had a trading volume of 4,446,224 shares, compared to its average volume of 5,464,991. The company has a market cap of $61.95 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.21 and a beta of 0.54. The business's fifty day moving average price is $61.60 and its 200 day moving average price is $59.97. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $66.75.

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, topping analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates 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 was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. As a group, equities analysts forecast 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 company's stock in a transaction 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 transaction, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. This represents 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. 8.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on MNST shares. The Goldman Sachs Group boosted their price target on Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, June 13th. TD Cowen boosted their price target on Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Friday, May 9th. Rothschild & Co Redburn lowered Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target on the stock. in a research note on Wednesday, July 9th. Citigroup boosted their price target on Monster Beverage from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Roth Mkm boosted their price target on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $65.10.

Monster Beverage 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.