SteelPeak Wealth LLC Takes Position in Monster Beverage Corporation $MNST

Key Points

• SteelPeak Wealth LLC has acquired 28,472 shares of Monster Beverage Corporation, valued at approximately $1,783,000, marking a significant new position for the firm.
• A number of hedge funds, including Ashton Thomas Securities LLC and Pinnacle Associates Ltd., have also increased their stakes in Monster Beverage, reflecting strong institutional interest in the company.
• Monster Beverage recently reported earnings of $0.52 per share, exceeding analysts' estimates, and generated revenues of $2.11 billion, showing an 11.1% increase year-over-year.

SteelPeak Wealth LLC acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 28,472 shares of the company's stock, valued at approximately $1,783,000.

A number of other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC raised its stake in shares of Monster Beverage by 1.0% during the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company's stock valued at $1,064,000 after purchasing an additional 174 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Monster Beverage by 4.0% in the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock worth $286,000 after buying an additional 189 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after buying an additional 196 shares during the last quarter. Conning Inc. increased its stake in shares of Monster Beverage by 3.9% in the first quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after buying an additional 219 shares during the last quarter. Finally, Eastern Bank increased its stake in shares of Monster Beverage by 3.0% in the first quarter. Eastern Bank now owns 7,527 shares of the company's stock worth $440,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank Of Canada set a $68.00 price target on shares of Monster Beverage and gave the stock an "outperform" rating in a research note on Friday, August 8th. Rothschild & Co Redburn lowered shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target for the company. in a research note on Wednesday, July 9th. Stifel Nicolaus assumed coverage on shares of Monster Beverage in a research note on Thursday, June 12th. They issued a "buy" rating and a $72.00 price target for the company. Wells Fargo & Company set a $73.00 price target on shares of Monster Beverage and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Roth Capital restated a "neutral" rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Monster Beverage presently has an average rating of "Hold" and a consensus target price of $65.19.

Monster Beverage Price Performance

Monster Beverage stock opened at $68.15 on Wednesday. The company has a market cap of $66.54 billion, a PE ratio of 42.33, a P/E/G ratio of 2.33 and a beta of 0.54. The company has a fifty day moving average price of $63.74 and a two-hundred day moving average price of $61.75. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $68.28.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released 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 firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. Equities research analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.

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