Pallas Capital Advisors LLC Takes Position in Monster Beverage Corporation $MNST

Key Points

• Pallas Capital Advisors LLC made a new investment in Monster Beverage Corporation, purchasing 28,878 shares valued at approximately $1.81 million during the second quarter.
• Monster Beverage reported $0.52 earnings per share for the last quarter, surpassing analyst expectations, and achieved 11.1% revenue growth compared to the previous year.
• Analysts have positive outlooks for Monster Beverage, with target price upgrades from several firms, including Royal Bank of Canada and Bank of America, indicating a general consensus of a "Buy" rating.

Pallas Capital Advisors LLC acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,878 shares of the company's stock, valued at approximately $1,809,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MNST. Tidal Investments LLC raised its stake in shares of Monster Beverage by 26.5% during the fourth quarter. Tidal Investments LLC now owns 67,355 shares of the company's stock valued at $3,540,000 after purchasing an additional 14,109 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Monster Beverage by 16.8% during the fourth quarter. Two Sigma Investments LP now owns 744,332 shares of the company's stock valued at $39,122,000 after purchasing an additional 106,892 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Monster Beverage during the fourth quarter valued at about $8,042,000. Vident Advisory LLC raised its stake in shares of Monster Beverage by 12.2% during the fourth quarter. Vident Advisory LLC now owns 20,237 shares of the company's stock valued at $1,064,000 after purchasing an additional 2,193 shares in the last quarter. Finally, USS Investment Management Ltd acquired a new position in Monster Beverage during the fourth quarter worth about $7,387,000. 72.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MNST shares. Bank of America lifted their target price on Monster Beverage from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, August 8th. JPMorgan Chase & Co. lifted their target price on Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Citigroup lifted their target price on Monster Beverage from $74.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday. Wells Fargo & Company set a $73.00 target price on Monster Beverage and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Morgan Stanley lifted their target price on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Monster Beverage has a consensus rating of "Hold" and a consensus price target of $65.19.

Monster Beverage Trading Down 0.8%

NASDAQ MNST traded down $0.51 during trading on Friday, reaching $64.13. 13,012,741 shares of the company's stock were exchanged, compared to its average volume of 6,077,287. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $67.13. The firm has a market capitalization of $62.62 billion, a PE ratio of 39.83, a P/E/G ratio of 2.31 and a beta of 0.54. The company's fifty day simple moving average is $62.06 and its 200-day simple moving average is $60.78.

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, 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 firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company posted $0.41 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction dated 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 directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.30% of the company's stock.

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.