Cornerstone Wealth Group LLC Makes New Investment in Monster Beverage Corporation $MNST

Key Points

• Cornerstone Wealth Group LLC has made a new investment in Monster Beverage Corporation by acquiring 3,834 shares valued at approximately $240,000 during the second quarter.
• Several other institutional investors have increased their stakes in Monster Beverage, contributing to a total institutional ownership of 72.36% of the company's stock.
• Analysts have raised their price targets for Monster Beverage, with Royal Bank Of Canada and Bank of America both setting targets of $75.00, indicating strong expectations for the company's performance.

Cornerstone Wealth Group LLC acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,834 shares of the company's stock, valued at approximately $240,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Twin Capital Management Inc. grew its holdings in Monster Beverage by 11.6% during the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company's stock worth $305,000 after acquiring an additional 540 shares during the last quarter. OMNI 360 Wealth Inc. bought a new stake in Monster Beverage during the 2nd quarter worth about $365,000. Nisa Investment Advisors LLC lifted its position in Monster Beverage by 2.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company's stock valued at $18,475,000 after purchasing an additional 7,465 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position 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 valued at $3,915,000 after purchasing an additional 28,932 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Monster Beverage by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company's stock valued at $75,455,000 after purchasing an additional 11,443 shares during the period. Institutional investors own 72.36% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MNST. Royal Bank Of Canada upped their target price on shares of Monster Beverage from $68.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. Bank of America upped their target price on shares of Monster Beverage from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Morgan Stanley upped their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. increased their price target 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. Finally, UBS Group increased their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $66.05.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 51,191 shares of the company's stock, valued at approximately $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 can be accessed through this link. Insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

NASDAQ MNST opened at $68.61 on Wednesday. The business has a 50 day simple moving average of $64.64 and a 200 day simple moving average of $62.12. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $70.06. The stock has a market cap of $66.99 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 2.33 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its 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 analysts' expectations of $2.08 billion. During the same period in the prior year, the business earned $0.41 EPS. Monster Beverage's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts predict 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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