Maridea Wealth Management LLC Makes New Investment in Monster Beverage Corporation $MNST

Key Points

• Maridea Wealth Management LLC recently acquired a new position in Monster Beverage Corporation, investing approximately $472,000 for 7,530 shares in the second quarter.
• Bank of America increased its price target for Monster Beverage from $66.00 to $72.00 while maintaining a "buy" rating, highlighting positive analyst sentiment towards the stock.
• Monster Beverage reported earnings of $0.52 per share for the last quarter, surpassing analysts' expectations of $0.48 and showing an 11.1% year-over-year revenue increase.

Maridea Wealth Management LLC acquired a new position in shares of 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 firm acquired 7,530 shares of the company's stock, valued at approximately $472,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Monster Beverage during the 1st quarter worth $29,000. Webster Bank N. A. bought a new position in Monster Beverage in the second quarter valued at approximately $38,000. Park Square Financial Group LLC bought a new position in Monster Beverage in the fourth quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. increased its stake 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. Finally, Banque Cantonale Vaudoise bought a new position in Monster Beverage in the first quarter valued at approximately $43,000. Institutional investors own 72.36% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MNST shares. Bank of America lifted their price objective on shares of Monster Beverage from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Morgan Stanley lifted their price objective on shares of Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a research note 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 price objective on the stock. in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted 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. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $65.19.

Monster Beverage Stock Performance

NASDAQ MNST opened at $64.59 on Friday. The firm's fifty day moving average price is $62.59 and its two-hundred day moving average price is $61.09. The stock has a market cap of $63.07 billion, a PE ratio of 40.12, a PEG ratio of 2.26 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $67.13.

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

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.30% of the company's stock.

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.

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