Neo Ivy Capital Management Acquires New Stake in Monster Beverage Co. (NASDAQ:MNST)

Neo Ivy Capital Management bought a new position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 33,408 shares of the company's stock, valued at approximately $1,755,000.

Several other institutional investors have also recently bought and sold shares of MNST. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after purchasing an additional 203 shares in the last quarter. Spire Wealth Management purchased a new stake in Monster Beverage in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Monster Beverage during the 4th quarter valued at $31,000. Geneos Wealth Management Inc. bought a new stake in shares of Monster Beverage during the 4th quarter worth $33,000. Finally, Coppell Advisory Solutions LLC raised its stake in shares of Monster Beverage by 259.2% during the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock worth $36,000 after purchasing an additional 495 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Activity at Monster Beverage

In other news, insider Emelie Tirre sold 91,316 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the transaction, the insider now owns 76,201 shares of the company's stock, valued at approximately $4,220,011.38. The trade was a 54.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark J. Hall sold 48,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $54.89, for a total value of $2,634,720.00. Following the transaction, the director now directly owns 296,846 shares in the company, valued at approximately $16,293,876.94. This represents a 13.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 217,112 shares of company stock valued at $12,033,838. 7.80% of the stock is owned by company insiders.

Monster Beverage Stock Performance

NASDAQ:MNST traded down $0.49 on Thursday, hitting $63.29. The stock had a trading volume of 1,421,055 shares, compared to its average volume of 6,882,268. The stock has a market cap of $61.72 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $59.67 and its two-hundred day simple moving average is $54.78. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The firm had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the previous year, the firm earned $0.42 EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. As a group, research analysts predict that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Analysts Set New Price Targets

MNST has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Monster Beverage from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Roth Capital boosted their price objective on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Truist Financial boosted their price objective on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. Finally, UBS Group upped their target price on Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.81.

About Monster Beverage

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.