Allegiance Financial Group Advisory Services LLC Acquires New Stake in Monster Beverage Corporation $MNST

Key Points

• Allegiance Financial Group Advisory Services LLC has acquired a new stake in Monster Beverage Corporation, purchasing 3,778 shares valued at approximately $237,000 in the second quarter.
• Monster Beverage reported quarterly earnings of $0.52 EPS, exceeding estimates and achieving a 20.54% net margin, with revenue growing by 11.1% year-over-year.
• Equities analysts have mixed ratings for Monster Beverage, with target prices ranging from $60.00 to $72.00, highlighting a consensus rating of "Hold" among analysts.

Allegiance Financial Group Advisory Services LLC bought a new position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,778 shares of the company's stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in Monster Beverage during the first quarter valued at approximately $29,000. Webster Bank N. A. bought a new position in Monster Beverage in the second quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after acquiring an additional 196 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Monster Beverage during the 1st quarter valued at $43,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Monster Beverage in the 2nd quarter worth $55,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Price Performance

MNST stock opened at $68.73 on Thursday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $69.20. The business has a 50 day simple moving average of $63.90 and a two-hundred day simple moving average of $61.80. The company has a market capitalization of $67.11 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.37 and a beta of 0.54.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Royal Bank Of Canada set a $68.00 price objective on Monster Beverage and gave the company an "outperform" rating in a research report on Friday, August 8th. UBS Group increased their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target on the stock. in a report on Wednesday, July 9th. Finally, Wall Street Zen lowered shares of Monster Beverage from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $65.57.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the 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 transaction, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by insiders.

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.

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