Belpointe Asset Management LLC Grows Stock Position in Monster Beverage Corporation $MNST

Belpointe Asset Management LLC boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 385.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,231 shares of the company's stock after purchasing an additional 14,475 shares during the period. Belpointe Asset Management LLC's holdings in Monster Beverage were worth $1,142,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Petros Family Wealth LLC purchased a new position in Monster Beverage during the 2nd quarter valued at about $366,000. Valeo Financial Advisors LLC increased its holdings in Monster Beverage by 9.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,192 shares of the company's stock valued at $450,000 after purchasing an additional 629 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Monster Beverage by 1.7% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 133,252 shares of the company's stock valued at $8,347,000 after purchasing an additional 2,166 shares during the period. DAVENPORT & Co LLC increased its holdings in Monster Beverage by 55.4% during the 2nd quarter. DAVENPORT & Co LLC now owns 8,160 shares of the company's stock valued at $511,000 after purchasing an additional 2,909 shares during the period. Finally, Three Cord True Wealth Management LLC purchased a new position in Monster Beverage during the 2nd quarter valued at about $201,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Transactions at Monster Beverage

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. Insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MNST shares. Roth Capital restated a "neutral" rating and set a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Wall Street Zen cut Monster Beverage from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Morgan Stanley lifted their price objective on Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Stifel Nicolaus initiated coverage on Monster Beverage in a research report on Thursday, June 12th. They set a "buy" rating and a $72.00 price objective on the stock. Finally, Rothschild & Co Redburn cut Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price objective on the stock. in a research report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Monster Beverage has a consensus rating of "Hold" and a consensus target price of $65.19.

Monster Beverage Stock Performance

Shares of MNST stock opened at $68.15 on Wednesday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $68.28. The firm has a market capitalization of $66.54 billion, a PE ratio of 42.33, a PEG ratio of 2.33 and a beta of 0.54. The stock has a fifty day simple moving average of $63.74 and a two-hundred day simple moving average of $61.75.

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

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