Bleakley Financial Group LLC Acquires 3,978 Shares of Monster Beverage Corporation $MNST

Key Points

• Bleakley Financial Group LLC increased its stake in Monster Beverage Corporation by 27.7%, acquiring an additional 3,978 shares, bringing its total ownership to 18,343 shares valued at approximately $1,149,000.
• Wall Street analysts have varied ratings for Monster Beverage, with thirteen analysts rating it a Buy, eight a Hold, and two a Sell, while the average target price remains at $66.43.
• Insider activity includes Director Mark Vidergauz selling 10,000 shares for about $637,300, representing a 16.34% decrease in his position.

Bleakley Financial Group LLC increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 27.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,343 shares of the company's stock after acquiring an additional 3,978 shares during the period. Bleakley Financial Group LLC's holdings in Monster Beverage were worth $1,149,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MNST. GAMMA Investing LLC lifted its holdings in Monster Beverage by 2.2% during the 1st quarter. GAMMA Investing LLC now owns 21,433 shares of the company's stock worth $1,254,000 after buying an additional 460 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Monster Beverage by 28.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company's stock worth $2,136,000 after buying an additional 8,155 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings 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 buying an additional 28,932 shares in the last quarter. Spire Wealth Management lifted its holdings in Monster Beverage by 284.2% during the 1st quarter. Spire Wealth Management now owns 2,109 shares of the company's stock worth $123,000 after buying an additional 1,560 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in Monster Beverage by 3,425.9% during the 1st quarter. Golden State Wealth Management LLC now owns 2,045 shares of the company's stock worth $120,000 after buying an additional 1,987 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MNST has been the topic of several research reports. Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the stock an "overweight" rating in a report on Friday, August 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Monster Beverage in a research note on Saturday. Roth Capital reissued a "neutral" rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Bank of America increased their price target on Monster Beverage from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $66.43.

Insider Buying and Selling

In related 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 transaction of $637,300.00. Following the sale, the director owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale 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 Trading Down 0.3%

Shares of Monster Beverage stock opened at $69.69 on Friday. The company has a market capitalization of $68.05 billion, a PE ratio of 43.29, a PEG ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $70.72. The stock's fifty day simple moving average is $65.67 and its 200 day simple moving average is $62.79.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate 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 was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. Analysts predict 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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