Virtue Capital Management LLC Sells 4,700 Shares of Monster Beverage Corporation $MNST

Virtue Capital Management LLC lowered its stake in Monster Beverage Corporation (NASDAQ:MNST) by 54.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,941 shares of the company’s stock after selling 4,700 shares during the quarter. Virtue Capital Management LLC’s holdings in Monster Beverage were worth $247,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Access Investment Management LLC bought a new position in Monster Beverage during the second quarter worth about $25,000. Salomon & Ludwin LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $28,000. Golden State Wealth Management LLC increased its stake in shares of Monster Beverage by 647.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock valued at $35,000 after acquiring an additional 479 shares during the last quarter. Webster Bank N. A. acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $38,000. Finally, Banque Cantonale Vaudoise bought a new position in Monster Beverage during the 1st quarter worth approximately $43,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Monster Beverage

In other news, insider Guy Carling sold 38,438 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the sale, the insider owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. This represents a 63.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.30% of the company’s stock.

Monster Beverage Price Performance

MNST opened at $75.03 on Friday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $75.27. The company’s 50 day moving average price is $69.21 and its two-hundred day moving average price is $64.80. The firm has a market capitalization of $73.30 billion, a price-to-earnings ratio of 46.60, a PEG ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. Monster Beverage’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. As a group, equities research analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MNST shares. Wells Fargo & Company upped their target price on shares of Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Citigroup restated a “buy” rating and issued a $79.00 price target (up from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Argus raised shares of Monster Beverage to a “strong-buy” rating in a research report on Tuesday, November 25th. Finally, Stifel Nicolaus increased their target price on Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.62.

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.