Westerkirk Capital Inc. Buys Shares of 10,500 Monster Beverage Corporation $MNST

Westerkirk Capital Inc. purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,500 shares of the company’s stock, valued at approximately $658,000.

Several other large investors also recently added to or reduced their stakes in MNST. Access Investment Management LLC bought a new position in shares of Monster Beverage during the 2nd quarter valued at $25,000. Salomon & Ludwin LLC bought a new stake in shares of Monster Beverage during the 2nd quarter worth about $28,000. Golden State Wealth Management LLC raised 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 in the last quarter. Webster Bank N. A. acquired a new stake in Monster Beverage in the 2nd quarter worth approximately $38,000. Finally, Westside Investment Management Inc. lifted its holdings in Monster Beverage by 35.6% in the 2nd quarter. Westside Investment Management Inc. now owns 865 shares of the company’s stock worth $54,000 after purchasing an additional 227 shares during the last quarter. 72.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MNST has been the topic of several analyst reports. The Goldman Sachs Group increased their price target on Monster Beverage from $77.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Citigroup reiterated a “buy” rating and issued a $79.00 target price (up previously from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Argus upgraded shares of Monster Beverage to a “strong-buy” rating in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a research report on Monday, November 24th. Finally, UBS Group lifted their price objective on Monster Beverage from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.38.

Insiders Place Their Bets

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

Monster Beverage Stock Down 1.6%

Shares of MNST opened at $74.71 on Wednesday. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $76.28. The firm has a market capitalization of $72.99 billion, a price-to-earnings ratio of 46.40, a P/E/G ratio of 2.31 and a beta of 0.53. The stock’s 50-day moving average price is $69.66 and its 200 day moving average price is $65.01.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Equities research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

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.