Monster Beverage Corporation $MNST Shares Bought by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in Monster Beverage Corporation by 26.2%, holding 68,173 shares worth approximately $4.27 million as of the latest SEC filing.
• Multiple brokerages have raised their price targets for Monster Beverage, with Goldman Sachs setting a new target of $72 and maintaining a "buy" rating.
• Monster Beverage reported a quarterly earnings per share of $0.52, exceeding estimates and showing a revenue increase of 11.1% year-over-year.

QRG Capital Management Inc. raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 26.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,173 shares of the company's stock after acquiring an additional 14,162 shares during the quarter. QRG Capital Management Inc.'s holdings in Monster Beverage were worth $4,270,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MNST. Fortis Capital Advisors LLC purchased a new stake in Monster Beverage during the second quarter worth approximately $679,000. Ascent Group LLC raised its holdings in Monster Beverage by 58.1% during the second quarter. Ascent Group LLC now owns 7,952 shares of the company's stock worth $498,000 after purchasing an additional 2,923 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $55,000. Ashton Thomas Securities LLC boosted its holdings in shares of Monster Beverage by 1.0% in the 2nd quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company's stock valued at $1,064,000 after buying an additional 174 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in shares of Monster Beverage in the 2nd quarter valued at $269,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MNST. UBS Group lifted their price target on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. The Goldman Sachs Group lifted their target price on Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Bank of America boosted their target price on Monster Beverage from $66.00 to $72.00 and gave the company a "buy" rating in a report on Friday, August 8th. Citigroup raised their price target on Monster Beverage from $74.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley lifted their price target on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $65.19.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

Monster Beverage stock opened at $67.09 on Tuesday. The company has a market cap of $65.51 billion, a P/E ratio of 41.67, a price-to-earnings-growth ratio of 2.34 and a beta of 0.54. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $67.89. The business has a fifty day moving average of $63.61 and a two-hundred day moving average of $61.70.

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, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.Monster Beverage's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Sell-side analysts predict that Monster Beverage Corporation will post 1.62 EPS 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.

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