Apollon Wealth Management LLC Has $1.29 Million Position in Monster Beverage Corporation $MNST

Key Points

• Apollon Wealth Management LLC increased its stake in Monster Beverage Corporation by 33.2% during the second quarter, owning approximately 20,536 shares valued at $1.29 million.
• Institutional investors and hedge funds own 72.36% of Monster Beverage's stock, with significant increases coming from firms such as Nuveen LLC and Vanguard Group Inc..
• Thirteen analysts rated Monster Beverage with a "Buy" rating, while the average target price is set at $66.05, reflecting positive sentiment despite some recent rating changes.

Apollon Wealth Management LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 33.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,536 shares of the company's stock after acquiring an additional 5,122 shares during the quarter. Apollon Wealth Management LLC's holdings in Monster Beverage were worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Nuveen LLC acquired a new position in Monster Beverage during the first quarter worth $497,157,000. Montrusco Bolton Investments Inc. increased its position in Monster Beverage by 54.7% during the first quarter. Montrusco Bolton Investments Inc. now owns 5,366,126 shares of the company's stock worth $303,728,000 after buying an additional 1,897,466 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Monster Beverage by 34.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,278,206 shares of the company's stock worth $425,921,000 after buying an additional 1,872,075 shares during the last quarter. Amundi increased its position in Monster Beverage by 69.8% during the first quarter. Amundi now owns 3,032,591 shares of the company's stock worth $180,894,000 after buying an additional 1,246,114 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Monster Beverage by 1.8% during the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company's stock worth $3,791,313,000 after buying an additional 1,151,175 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup restated a "buy" rating and set a $79.00 price target (up from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Redburn Atlantic cut shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and decreased their price target for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. Roth Capital restated a "neutral" rating and set a $60.00 price target (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Rothschild & Co Redburn cut shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target for the company. in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $66.05.

Insider Buying and Selling at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.80% of the stock is currently owned by corporate insiders.

Monster Beverage Stock Up 2.2%

NASDAQ:MNST opened at $68.61 on Wednesday. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $70.06. The firm has a market capitalization of $66.99 billion, a PE ratio of 42.61, a price-to-earnings-growth ratio of 2.33 and a beta of 0.54. The firm has a 50-day moving average price of $64.64 and a 200 day moving average price of $62.12.

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

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.

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