SteelPeak Wealth Acquires Stake in Monster Beverage Corporation

SteelPeak Wealth LLC has made a significant move by purchasing a new stake in Monster Beverage Corporation (NASDAQ: MNST) during the second quarter of 2023. According to the latest Form 13F filing with the Securities and Exchange Commission (SEC), SteelPeak acquired 28,472 shares of Monster, valued at approximately $1.78 million.

Several other institutional investors have also modified their holdings in Monster Beverage recently. For example, Twin Capital Management Inc. increased its stake by 11.6% during the first quarter, now owning 5,213 shares valued at $305,000 after acquiring an additional 540 shares. Similarly, Nisa Investment Advisors LLC raised its stake by 2.4%, bringing its total to 315,704 shares worth $18.48 million after purchasing an extra 7,465 shares.

Cambridge Investment Research Advisors Inc. significantly increased its stake by 76.2% during the same period, now holding 66,906 shares valued at $3.92 million. Principal Financial Group Inc. also added to its position, raising its ownership by 0.9% to 1,289,392 shares, worth $75.46 million after acquiring another 11,443 shares. Another notable acquisition came from OMNI 360 Wealth Inc., which bought a new stake valued at approximately $365,000 in the second quarter. Overall, institutional investors and hedge funds now own 72.36% of Monster’s stock.

Stock Performance and Analyst Ratings

In market performance, shares of Monster Beverage opened at $68.15 on the latest trading session. The company’s 50-day moving average stands at $63.74, while the 200-day moving average is at $61.75. Monster Beverage boasts a market capitalization of $66.54 billion, a price-to-earnings (PE) ratio of 42.33, and a price-to-earnings growth (PEG) ratio of 2.33. The stock has a beta of 0.54, with a 52-week low of $45.70 and a high of $68.28.

Analysts have shown optimism towards Monster Beverage’s future. Wells Fargo & Company set a price target of $73.00 and rated the stock as “overweight” in a note released on August 8, 2023. Citigroup raised its target from $74.00 to $76.00 with a “buy” rating on September 16, 2023. Additionally, JPMorgan Chase & Co. adjusted its target from $64.00 to $68.00, maintaining a “neutral” rating. However, Wall Street Zen downgraded the stock from a “buy” to a “hold” rating on September 5, 2023.

Currently, thirteen analysts have rated Monster Beverage with a “buy,” eight have given a “hold,” and two have assigned a “sell” rating. The average rating stands at “hold,” with a target price averaging $65.19, according to data from MarketBeat.com.

Insider Transactions and Company Overview

In insider news, Director Mark Vidergauz sold 10,000 shares on August 13, 2023, at an average price of $63.73, totaling $637,300. Following this transaction, Vidergauz retained 51,191 shares valued at approximately $3.26 million, marking a 16.34% decrease in his position. This transaction has been disclosed in a filing with the SEC.

Insiders currently own 7.80% of Monster Beverage’s stock. The company, through its subsidiaries, specializes in developing, marketing, selling, and distributing energy drinks and concentrates both in the United States and internationally. It operates through three main segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.

For those interested in further insights into hedge fund activities related to Monster Beverage, HoldingsChannel.com provides the latest 13F filings and insider transactions for the company.

With the ongoing interest from institutional investors and positive analyst ratings, Monster Beverage Corporation seems poised for continued growth, reflecting the company’s strong market presence in the energy beverage sector.