Empirical Asset Management LLC Has $896,000 Stock Holdings in Monster Beverage Corporation $MNST

Key Points

• Empirical Asset Management LLC increased its stake in Monster Beverage Corporation by 34.5%, owning 14,306 shares valued at $896,000 after acquiring 3,672 shares in the second quarter.
• Monster Beverage reported $2.11 billion in revenue for the quarter, beating expectations, and earnings per share were $0.52, exceeding the consensus estimate by $0.04.
• Insider activity includes a notable sale by Director Mark Vidergauz, who sold 10,000 shares for approximately $637,300, representing a 16.34% reduction in his ownership.

Empirical Asset Management LLC boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 34.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,306 shares of the company's stock after buying an additional 3,672 shares during the quarter. Empirical Asset Management LLC's holdings in Monster Beverage were worth $896,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Praxis Investment Management Inc. acquired a new position in Monster Beverage during the second quarter worth $234,000. S Bank Fund Management Ltd increased its position in Monster Beverage by 12.4% during the second quarter. S Bank Fund Management Ltd now owns 9,925 shares of the company's stock worth $622,000 after buying an additional 1,093 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Monster Beverage during the second quarter worth $6,326,000. Mutual Advisors LLC increased its position in Monster Beverage by 11.0% during the second quarter. Mutual Advisors LLC now owns 4,001 shares of the company's stock worth $243,000 after buying an additional 397 shares during the last quarter. Finally, Generali Asset Management SPA SGR increased its position in Monster Beverage by 68.9% during the second quarter. Generali Asset Management SPA SGR now owns 76,781 shares of the company's stock worth $4,810,000 after buying an additional 31,325 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Price Performance

MNST stock opened at $70.16 on Friday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $70.51. The company has a 50-day moving average of $65.01 and a two-hundred day moving average of $62.24. The stock has a market capitalization of $68.51 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 2.39 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.08 billion. During the same quarter last year, the company earned $0.41 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. Equities analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were 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 approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler raised shares of Monster Beverage from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price on the stock. in a research report on Wednesday, July 9th. UBS Group upped their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, October 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Monster Beverage in a report on Wednesday, October 8th. Finally, Citigroup restated a "buy" rating and set a $79.00 price target (up from $76.00) on shares of Monster Beverage in a 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Monster Beverage currently has an average rating of "Hold" and a consensus price target of $66.05.

Monster Beverage Company 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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