Cwm LLC increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 482.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,550 shares of the company's stock after purchasing an additional 85,757 shares during the quarter. Cwm LLC's holdings in Monster Beverage were worth $6,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of MNST. Wayfinding Financial LLC bought a new position in shares of Monster Beverage during the first quarter valued at $29,000. Webster Bank N. A. bought a new position in shares of Monster Beverage during the second quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Monster Beverage by 37.1% during 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 position in shares of Monster Beverage during the first quarter valued at $43,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Monster Beverage during the second quarter valued at $55,000. 72.36% of the stock is owned by institutional investors.
Monster Beverage Stock Up 0.1%
Shares of MNST opened at $68.65 on Thursday. The business has a 50-day simple moving average of $64.82 and a two-hundred day simple moving average of $62.16. The stock has a market cap of $67.03 billion, a price-to-earnings ratio of 42.64, a PEG ratio of 2.39 and a beta of 0.54. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $70.06.
Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The business 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%.The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. On average, equities analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on MNST. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Monster Beverage in a report on Wednesday, October 8th. Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the company an "overweight" rating in a research report on Friday, August 8th. Royal Bank Of Canada upped their price objective on Monster Beverage from $68.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. Roth Capital reiterated a "neutral" rating and set a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Finally, Citigroup reiterated a "buy" rating and set a $79.00 price objective (up previously from $76.00) on shares of Monster Beverage in a research report on Thursday, October 9th. Thirteen equities research 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. According to MarketBeat, Monster Beverage presently has an average rating of "Hold" and a consensus price target of $66.05.
Read Our Latest Research Report on Monster Beverage
Insider Buying and Selling
In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was 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 in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 8.30% of the stock is currently owned by insiders.
About Monster Beverage
(
Free Report)
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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