Mutual Advisors LLC Increases Stake in Monster Beverage Corporation $MNST

Mutual Advisors LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 11.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,001 shares of the company’s stock after purchasing an additional 397 shares during the quarter. Mutual Advisors LLC’s holdings in Monster Beverage were worth $243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Monster Beverage in the 1st quarter valued at approximately $29,000. Webster Bank N. A. purchased a new position in shares of Monster Beverage in the 2nd quarter valued at approximately $38,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after purchasing an additional 196 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Monster Beverage in the 1st quarter valued at approximately $43,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Monster Beverage in the 2nd quarter valued at approximately $55,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the sale, the director owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the topic of several research reports. Redburn Atlantic downgraded shares of Monster Beverage from a “strong-buy” rating to a “hold” rating and cut their price target for the stock from $63.00 to $60.00 in a report on Wednesday, July 9th. Citigroup reiterated a “buy” rating and issued a $79.00 price target (up previously from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Roth Capital reiterated a “neutral” rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.05.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $68.90 on Wednesday. The stock has a market capitalization of $67.28 billion, a price-to-earnings ratio of 42.80, a PEG ratio of 2.43 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $70.72. The firm’s 50 day simple moving average is $65.34 and its 200-day simple moving average is $62.49.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

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.