Chicago Partners Investment Group LLC Acquires 5,997 Shares of Monster Beverage Corporation $MNST

Key Points

• Chicago Partners Investment Group LLC increased its stake in Monster Beverage Corporation by 74.9%, acquiring an additional 5,997 shares, bringing its total to 14,005 shares valued at $829,000.
• Wall Street analysts have mixed ratings on Monster Beverage, with a current average target price of $66.05, and ratings ranging from "Buy" to "Hold" to "Sell" across various brokerages.
• Monster Beverage reported earnings of $0.52 EPS in its last quarter, surpassing expectations and showing an 11.1% revenue increase compared to the previous year.

Chicago Partners Investment Group LLC lifted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 74.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,005 shares of the company's stock after purchasing an additional 5,997 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Monster Beverage were worth $829,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Wayfinding Financial LLC acquired a new position in Monster Beverage in the 1st quarter valued at $29,000. Webster Bank N. A. bought a new position in shares of Monster Beverage in the second quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after purchasing an additional 196 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Monster Beverage during the first quarter worth about $43,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Monster Beverage during the second quarter worth about $55,000. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MNST. JPMorgan Chase & Co. boosted their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Redburn Atlantic downgraded shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Royal Bank Of Canada upped their target price on Monster Beverage from $68.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. Rothschild & Co Redburn lowered Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target on the stock. in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the stock an "overweight" rating in a research report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given 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 $66.05.

Insider Buying and Selling

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

NASDAQ MNST opened at $68.90 on Wednesday. The firm's fifty day moving average price is $65.34 and its two-hundred day moving average price is $62.49. The stock has a market cap of $67.28 billion, a PE ratio of 42.80, a PEG ratio of 2.43 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.72.

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