Ieq Capital LLC Has $3.43 Million Stake in Monster Beverage Co. (NASDAQ:MNST)

Ieq Capital LLC lifted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,735 shares of the company’s stock after buying an additional 232 shares during the period. Ieq Capital LLC’s holdings in Monster Beverage were worth $3,433,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Intech Investment Management LLC raised its holdings in shares of Monster Beverage by 49.5% in the second quarter. Intech Investment Management LLC now owns 109,060 shares of the company’s stock valued at $5,448,000 after purchasing an additional 36,111 shares during the last quarter. Inspire Investing LLC increased its stake in Monster Beverage by 170.2% in the 2nd quarter. Inspire Investing LLC now owns 23,860 shares of the company’s stock valued at $1,192,000 after buying an additional 15,030 shares during the last quarter. XTX Topco Ltd bought a new stake in Monster Beverage during the 2nd quarter worth about $2,698,000. Seven Eight Capital LP boosted its stake in shares of Monster Beverage by 976.1% during the 2nd quarter. Seven Eight Capital LP now owns 75,351 shares of the company’s stock worth $3,764,000 after buying an additional 68,349 shares during the last quarter. Finally, Gardner Lewis Asset Management L P grew its holdings in shares of Monster Beverage by 11.5% in the 2nd quarter. Gardner Lewis Asset Management L P now owns 41,668 shares of the company’s stock valued at $2,081,000 after acquiring an additional 4,294 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

MNST opened at $51.18 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The business has a fifty day simple moving average of $49.11 and a 200 day simple moving average of $52.23. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The company has a market capitalization of $53.32 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $0.39 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Research analysts expect that Monster Beverage Co. will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BMO Capital Markets dropped their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. UBS Group cut their price objective on Monster Beverage from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Bank of America decreased their target price on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Piper Sandler dropped their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Morgan Stanley decreased their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus target price of $55.85.

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.