Three Cord True Wealth Management LLC Takes $201,000 Position in Monster Beverage Corporation $MNST

Three Cord True Wealth Management LLC acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,202 shares of the company’s stock, valued at approximately $201,000. Monster Beverage comprises approximately 0.4% of Three Cord True Wealth Management LLC’s portfolio, making the stock its 17th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Twin Capital Management Inc. increased its stake in shares of Monster Beverage by 11.6% during the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock valued at $305,000 after acquiring an additional 540 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Monster Beverage by 2.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company’s stock worth $18,475,000 after purchasing an additional 7,465 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Monster Beverage by 76.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company’s stock worth $3,915,000 after purchasing an additional 28,932 shares in the last quarter. Principal Financial Group Inc. increased its position in Monster Beverage by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company’s stock worth $75,455,000 after purchasing an additional 11,443 shares in the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new stake in Monster Beverage during the 2nd quarter worth approximately $365,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST opened at $67.17 on Friday. The business’s fifty day moving average price is $63.47 and its 200 day moving average price is $61.60. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $67.89. The stock has a market capitalization of $65.59 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.54.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MNST. UBS Group increased their target price on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Stifel Nicolaus began coverage on shares of Monster Beverage in a research report on Thursday, June 12th. They set a “buy” rating and a $72.00 target price for the company. Royal Bank Of Canada set a $68.00 target price on shares of Monster Beverage and gave the stock an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monster Beverage in a research report on Saturday, September 27th. Finally, The Goldman Sachs Group increased their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.19.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the sale, the director directly 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 can be accessed through this link. Insiders own 8.30% of the company’s stock.

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.