Cyndeo Wealth Partners LLC Takes Position in Monster Beverage Corporation $MNST

Key Points

• Cyndeo Wealth Partners LLC has acquired a new stake in Monster Beverage Corporation, purchasing 5,774 shares valued at approximately $362,000 during the second quarter.
• Recent analyst ratings have resulted in target price increases for Monster Beverage, with UBS raising its target from $67.00 to $72.00 and Citigroup from $76.00 to $79.00, while maintaining a "buy" rating.
• The stock currently has a market cap of $67.98 billion and reported an earnings per share of $0.52 for the last quarter, surpassing analyst expectations.

Cyndeo Wealth Partners LLC purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 5,774 shares of the company's stock, valued at approximately $362,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Monster Beverage in the 1st quarter valued at $29,000. Webster Bank N. A. purchased a new position in Monster Beverage during the 2nd quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after buying an additional 196 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Monster Beverage during the 1st quarter worth $43,000. Finally, Ameritas Advisory Services LLC purchased a new position in Monster Beverage during the 2nd quarter worth $55,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group boosted their target price on Monster Beverage from $67.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday. Morgan Stanley boosted their target price on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Citigroup restated a "buy" rating and set a $79.00 target price (up from $76.00) on shares of Monster Beverage in a research note on Thursday. Wall Street Zen downgraded Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. boosted their price target on Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Thirteen 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $66.05.

Monster Beverage Stock Performance

Monster Beverage stock opened at $69.62 on Friday. The business's 50-day simple moving average is $64.31 and its two-hundred day simple moving average is $61.98. The company has a market cap of $67.98 billion, a PE ratio of 43.24, a PEG ratio of 2.42 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 $70.06.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the business'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 transaction, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.30% of the stock is currently owned by company insiders.

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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