Bayforest Capital Ltd Increases Stock Position in Monster Beverage Corporation $MNST

Bayforest Capital Ltd lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 509.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 12,962 shares of the company’s stock after buying an additional 10,835 shares during the period. Bayforest Capital Ltd’s holdings in Monster Beverage were worth $812,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Monster Beverage by 1.8% during the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock valued at $3,791,313,000 after buying an additional 1,151,175 shares during the period. Invesco Ltd. grew its stake in shares of Monster Beverage by 6.6% during the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock valued at $535,712,000 after buying an additional 563,353 shares during the period. Ninety One UK Ltd increased its holdings in shares of Monster Beverage by 4.9% during the 2nd quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock worth $560,282,000 after buying an additional 418,918 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Monster Beverage during the 1st quarter worth $497,157,000. Finally, Northern Trust Corp increased its holdings in shares of Monster Beverage by 1.0% during the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock worth $434,901,000 after buying an additional 73,737 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MNST shares. Royal Bank Of Canada upped their price objective on Monster Beverage from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America increased their price objective on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $66.05.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.80% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ MNST opened at $67.15 on Tuesday. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $70.06. The company has a 50-day simple moving average of $64.45 and a 200-day simple moving average of $62.07. The firm has a market capitalization of $65.57 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the business posted $0.41 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.