GC Wealth Management RIA LLC Invests $468,000 in Monster Beverage Corporation $MNST

Key Points

• GC Wealth Management RIA LLC invested approximately $468,000 in Monster Beverage Corporation by purchasing 7,473 shares during the second quarter.
• Monster Beverage reported an 11.1% increase in quarterly revenue year-over-year, with earnings per share of $0.52, surpassing analysts' estimates.
• Recent analyst reports have resulted in various upgrades and target price adjustments for Monster Beverage, with a consensus rating of "Hold" and an average target price of $65.19.

GC Wealth Management RIA LLC purchased a new position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,473 shares of the company's stock, valued at approximately $468,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Associates Ltd. lifted its position in shares of Monster Beverage by 4.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock worth $286,000 after purchasing an additional 189 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after purchasing an additional 196 shares during the period. Conning Inc. lifted its position in shares of Monster Beverage by 3.9% in the 1st quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after purchasing an additional 219 shares during the period. Eastern Bank lifted its position in shares of Monster Beverage by 3.0% in the 1st quarter. Eastern Bank now owns 7,527 shares of the company's stock worth $440,000 after purchasing an additional 221 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of Monster Beverage by 21.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock worth $77,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business's 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 completion of the sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 7.80% of the company's stock.

Monster Beverage Trading Up 0.5%

Shares of MNST stock opened at $67.31 on Wednesday. The firm has a market capitalization of $65.72 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.33 and a beta of 0.54. The firm has a fifty day simple moving average of $63.03 and a two-hundred day simple moving average of $61.38. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $67.45.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on MNST shares. Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $54.00 to $74.00 in a research report on Thursday, August 7th. Morgan Stanley boosted 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. 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 boosted their target price 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. Finally, The Goldman Sachs Group boosted their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $65.19.

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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