10,845 Shares in Monster Beverage Corporation $MNST Bought by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,845 shares of the company’s stock, valued at approximately $679,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ashton Thomas Securities LLC boosted its stake in Monster Beverage by 1.0% during the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock worth $1,064,000 after acquiring an additional 174 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in Monster Beverage by 4.0% during 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. raised its holdings in Monster Beverage by 37.1% during 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. raised its holdings in Monster Beverage by 3.9% during 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 raised its holdings in Monster Beverage by 3.0% during 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. 72.36% of the stock is owned by institutional investors.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ MNST opened at $67.17 on Friday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $67.89. The company has a 50-day simple moving average of $63.47 and a 200 day simple moving average of $61.57. The company has a market capitalization of $65.59 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.08 billion. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MNST shares. Roth Capital restated a “neutral” rating and set a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. The Goldman Sachs Group upped their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Wall Street Zen downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monster Beverage in a report on Saturday, September 27th. Finally, Stifel Nicolaus initiated coverage on shares of Monster Beverage in a report on Thursday, June 12th. They issued a “buy” rating and a $72.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Monster Beverage currently has an average rating of “Hold” and a consensus target price of $65.19.

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.