Harrell Investment Partners LLC Takes $1.90 Million Position in Monster Beverage Corporation $MNST

Key Points

• Harrell Investment Partners LLC acquired a new stake in Monster Beverage Corporation, buying approximately 30,320 shares valued at about $1.90 million in the second quarter.
• Corporate director Mark Vidergauz sold 10,000 shares of Monster Beverage at an average price of $63.73, which decreased his ownership by 16.34%.
• Monster Beverage's latest earnings report exceeded expectations with an EPS of $0.52, up from $0.41 year-over-year, and revenue of $2.11 billion, an increase of 11.1% compared to the previous year.

Harrell Investment Partners LLC bought a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 30,320 shares of the company's stock, valued at approximately $1,899,000.

A number of other large investors have also added to or reduced their stakes in MNST. Wayfinding Financial LLC purchased a new position in Monster Beverage during the first quarter valued at $29,000. Park Square Financial Group LLC purchased a new position in Monster Beverage during the fourth quarter valued at $36,000. Webster Bank N. A. purchased a new position in Monster Beverage during the second quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Monster Beverage by 37.1% in the first 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 last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Monster Beverage in the first quarter worth $43,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Activity at Monster Beverage

In related 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 sale, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was 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. Corporate insiders own 8.30% of the company's stock.

Monster Beverage Trading Up 0.7%

NASDAQ:MNST opened at $64.93 on Thursday. The company has a market capitalization of $63.40 billion, a P/E ratio of 40.33, a P/E/G ratio of 2.24 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $67.13. The business's 50-day moving average is $62.48 and its 200 day moving average is $61.03.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on MNST. Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the stock an "overweight" rating in a report on Friday, August 8th. Wall Street Zen lowered Monster Beverage from a "buy" rating to a "hold" rating in a report on Friday, September 5th. The Goldman Sachs Group boosted 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. Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Finally, Bank of America upped their price objective on Monster Beverage from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $65.19.

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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