Kestra Advisory Services LLC Has $1.56 Million Stock Position in Monster Beverage Corporation $MNST

Key Points

• Kestra Advisory Services LLC reduced its stake in Monster Beverage by 19.9%, selling 6,624 shares during the first quarter, leaving them with 26,681 shares valued at approximately $1.56 million.
• Monster Beverage recently reported an earnings per share (EPS) of $0.52, exceeding estimates, and saw an 11.1% year-over-year revenue increase to $2.11 billion.
• Analysts have raised their price targets for Monster Beverage, with Goldman Sachs and Citigroup both setting new targets at $72.00 and $74.00, proposing a strong buy rating on the stock.

Kestra Advisory Services LLC cut its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 19.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,681 shares of the company's stock after selling 6,624 shares during the quarter. Kestra Advisory Services LLC's holdings in Monster Beverage were worth $1,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MNST. Wayfinding Financial LLC purchased a new stake in shares of Monster Beverage in the 1st quarter worth about $29,000. Park Square Financial Group LLC purchased a new stake in Monster Beverage during the 4th quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Monster Beverage by 37.1% during the 1st 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 purchased a new stake in shares of Monster Beverage during the 1st quarter valued at about $43,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of 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 valued at $77,000 after acquiring an additional 230 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MNST has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $68.00 price target on shares of Monster Beverage and gave the company an "outperform" rating in a report on Friday, August 8th. Rothschild & Co Redburn cut 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 note on Wednesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Redburn Atlantic cut shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and decreased their target price for the stock from $63.00 to $60.00 in a research note on Wednesday, July 9th. Finally, Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and raised their target price for the stock 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Monster Beverage has a consensus rating of "Hold" and an average price target of $65.10.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, 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 this hyperlink. Insiders own 7.80% of the company's stock.

Monster Beverage Stock Up 0.0%

MNST traded up $0.01 during trading on Thursday, hitting $63.52. The company's stock had a trading volume of 1,724,413 shares, compared to its average volume of 6,074,709. The firm's 50 day moving average price is $61.58 and its two-hundred day moving average price is $59.87. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $66.75. The stock has a market capitalization of $62.02 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.04 and a beta of 0.54.

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

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.