McElhenny Sheffield Capital Management LLC Makes New Investment in Monster Beverage Corporation $MNST

Key Points

• McElhenny Sheffield Capital Management LLC has made a new investment in Monster Beverage Corporation by purchasing 17,000 shares valued at approximately $1,065,000.
• Institutional investors currently hold 72.36% of Monster Beverage's stock, indicating strong interest from larger funds in the company.
• Monster Beverage reported earnings of $0.52 EPS for the last quarter, exceeding analysts' estimates of $0.48, with revenues reaching $2.11 billion.

McElhenny Sheffield Capital Management LLC purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,000 shares of the company's stock, valued at approximately $1,065,000.

A number of other hedge funds have also recently modified their holdings of the business. Wayfinding Financial LLC bought a new position in Monster Beverage during the 1st quarter valued at about $29,000. Webster Bank N. A. bought a new stake in shares of Monster Beverage during the second quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Monster Beverage by 37.1% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after buying an additional 196 shares during the period. Banque Cantonale Vaudoise bought a new position in Monster Beverage in the first quarter worth about $43,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Monster Beverage during the second quarter worth about $55,000. Institutional investors own 72.36% of the company's stock.

Insider Transactions 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 value of $637,300.00. Following the sale, the director directly owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MNST has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Wells Fargo & Company set a $73.00 target price on Monster Beverage and gave the stock an "overweight" rating in a research report on Friday, August 8th. Royal Bank Of Canada set a $68.00 target price on Monster Beverage and gave the company an "outperform" rating in a research note on Friday, August 8th. UBS Group lifted their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Monster Beverage in a research report on Wednesday. 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 company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $65.57.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $68.73 on Thursday. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $69.20. The stock has a fifty day moving average of $63.90 and a 200-day moving average of $61.80. The company has a market capitalization of $67.11 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 2.37 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $2.11 billion during 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 revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. As a group, research analysts forecast that Monster Beverage Corporation will post 1.62 EPS 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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