Fortis Capital Advisors LLC Takes $679,000 Position in Monster Beverage Corporation $MNST

Key Points

• Fortis Capital Advisors LLC has purchased a new stake in Monster Beverage Corporation, acquiring 10,845 shares valued at approximately $679,000.
• Over 72% of Monster Beverage's stock is owned by institutional investors, indicating strong institutional interest in the company.
• Monster Beverage recently reported an EPS of $0.52, exceeding analysts' expectations of $0.48, with a revenue of $2.11 billion for the quarter.

Fortis Capital Advisors LLC bought a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,845 shares of the company's stock, valued at approximately $679,000.

A number of other institutional investors have also added to or reduced their stakes in MNST. Wealth Enhancement Advisory Services LLC increased its position in Monster Beverage by 11.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,346 shares of the company's stock worth $1,490,000 after purchasing an additional 3,004 shares in the last quarter. Merit Financial Group LLC increased its position in Monster Beverage by 81.8% during the 1st quarter. Merit Financial Group LLC now owns 12,094 shares of the company's stock worth $708,000 after purchasing an additional 5,441 shares in the last quarter. Vest Financial LLC acquired a new position in Monster Beverage during the 1st quarter worth approximately $247,000. Procyon Advisors LLC increased its position in Monster Beverage by 10.9% during the 1st quarter. Procyon Advisors LLC now owns 115,944 shares of the company's stock worth $6,785,000 after purchasing an additional 11,396 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Monster Beverage during the 1st quarter worth approximately $219,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Monster Beverage in a research report on Saturday, September 27th. UBS Group upped their price target on shares of Monster Beverage from $64.00 to $67.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Redburn Atlantic cut shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and decreased their price target for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Wall Street Zen cut shares of Monster Beverage from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Bank of America upped their price target on shares of Monster Beverage from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $65.19.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director directly owned 51,191 shares of the company's stock, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $67.17 on Friday. The firm's fifty day moving average is $63.47 and its 200-day moving average is $61.57. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $67.89. The firm has a market cap of $65.59 billion, a P/E ratio of 41.72, a P/E/G ratio of 2.35 and a beta of 0.54.

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

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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