Neo Ivy Capital Management Buys New Position in Monster Beverage Corporation $MNST

Neo Ivy Capital Management bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the 2nd quarter, Holdings Channel reports. The fund bought 7,161 shares of the company’s stock, valued at approximately $449,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Entropy Technologies LP acquired a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $5,831,000. Swiss National Bank lifted its position in shares of Monster Beverage by 7.4% during the 2nd quarter. Swiss National Bank now owns 2,209,500 shares of the company’s stock valued at $138,403,000 after acquiring an additional 152,300 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Monster Beverage during the second quarter worth $332,000. Prudential PLC grew its holdings in Monster Beverage by 76.4% in the second quarter. Prudential PLC now owns 108,930 shares of the company’s stock worth $6,823,000 after purchasing an additional 47,165 shares during the period. Finally, Cumberland Partners Ltd acquired a new stake in Monster Beverage in the second quarter worth $769,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

Shares of MNST opened at $72.04 on Friday. The firm has a market capitalization of $70.38 billion, a P/E ratio of 44.75, a P/E/G ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $73.07. The stock has a 50 day moving average price of $68.27 and a two-hundred day moving average price of $64.29.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of Monster Beverage stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the transaction, the insider directly owned 21,993 shares of the company’s stock, valued at $1,568,760.69. The trade was a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

MNST has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Monster Beverage from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Wall Street Zen upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. The Goldman Sachs Group boosted their target price on Monster Beverage from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. UBS Group increased their price target on Monster Beverage from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $79.00 price objective on shares of Monster Beverage in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.62.

Monster Beverage Company 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.