GK Wealth Management LLC Invests $300,000 in Monster Beverage Corporation $MNST

Key Points

• GK Wealth Management LLC has invested $300,000 in Monster Beverage Corporation, acquiring 4,790 shares during the 2nd quarter.
• Monster Beverage recently reported earnings of $0.52 per share, exceeding analyst expectations of $0.48, with revenues reaching $2.11 billion for the quarter.
• Analysts are varied in their outlook for Monster Beverage, with twelve rating it a Buy, while others have issued Hold and Sell ratings, leading to a consensus price target of $65.10.

GK Wealth Management LLC bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,790 shares of the company's stock, valued at approximately $300,000.

Several other large investors also recently made changes to their positions in MNST. Wayfinding Financial LLC bought a new stake in shares of Monster Beverage during the first quarter worth $29,000. Park Square Financial Group LLC bought a new position in Monster Beverage in the fourth quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after acquiring an additional 196 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Monster Beverage in the first quarter valued at about $43,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Monster Beverage by 21.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock valued at $77,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MNST. Redburn Atlantic cut 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 report on Wednesday, July 9th. The Goldman Sachs Group raised their price target on Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a report on Friday, June 13th. Morgan Stanley raised their price target on Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Rothschild & Co Redburn cut Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target on the stock. in a report on Wednesday, July 9th. Finally, Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and increased their target price for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Twelve 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.com, the company presently has an average rating of "Hold" and a consensus price target of $65.10.

Monster Beverage Trading Up 1.4%

NASDAQ:MNST opened at $64.69 on Monday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $66.75. The business's 50-day moving average price is $61.69 and its two-hundred day moving average price is $60.56. The firm has a market capitalization of $63.17 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 2.25 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. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Sell-side analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Monster Beverage 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.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.