HB Wealth Management LLC Sells 3,934 Shares of Monster Beverage Corporation $MNST

Key Points

• HB Wealth Management LLC reduced its holdings in Monster Beverage Corporation by 20.7%, resulting in a total of 15,029 shares worth $941,000 after selling 3,934 shares in the second quarter.
• Monster Beverage's stock price target has been raised by multiple analysts, with Bank of America increasing it from $66.00 to $72.00 while maintaining a "buy" rating.
• Director Mark Vidergauz sold 10,000 shares at an average price of $63.73, leading to a 16.34% decrease in his ownership position, leaving him with 51,191 shares valued at over $3.26 million.

HB Wealth Management LLC trimmed its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 20.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,029 shares of the company's stock after selling 3,934 shares during the quarter. HB Wealth Management LLC's holdings in Monster Beverage were worth $941,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Monster Beverage during the 1st quarter worth approximately $29,000. Webster Bank N. A. bought a new stake in Monster Beverage during the 2nd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Monster Beverage by 37.1% during 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 in the last quarter. Banque Cantonale Vaudoise bought a new stake in Monster Beverage during the 1st quarter worth approximately $43,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in Monster Beverage by 21.2% during 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 in the last quarter. 72.36% of the stock is owned by institutional investors.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was 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 of the company's stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.30% of the company's stock.

Analyst Ratings Changes

MNST has been the subject of several research reports. Bank of America raised their price target on shares of Monster Beverage from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. The Goldman Sachs Group raised their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Citigroup raised their price target on shares of Monster Beverage from $74.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Morgan Stanley raised their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Rothschild & Co Redburn cut shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target for the company. in a research note on Wednesday, July 9th. Thirteen 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 data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $65.19.

Monster Beverage Trading Down 0.6%

NASDAQ:MNST opened at $67.17 on Friday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $67.89. The firm has a fifty day simple moving average of $63.47 and a 200 day simple moving average of $61.57. The stock has a market capitalization of $65.59 billion, a PE 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 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 period last year, the business earned $0.41 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. On average, equities analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal 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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