Monster Beverage Corporation $MNST Shares Bought by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC increased its stake in Monster Beverage Corporation by 97.9% during the 2nd quarter, now holding 8,870 shares valued at approximately $556,000.
• Monster Beverage's recent quarterly earnings showed $0.52 earnings per share and revenue of $2.11 billion, surpassing analyst expectations.
• Company stock is currently priced at $68.15, with a 52-week range between $45.70 and $68.28, reflecting a market cap of $66.54 billion.

Simplicity Wealth LLC raised its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 97.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,870 shares of the company's stock after acquiring an additional 4,389 shares during the period. Simplicity Wealth LLC's holdings in Monster Beverage were worth $556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MNST. Wayfinding Financial LLC acquired a new position in Monster Beverage in the first quarter valued at $29,000. Webster Bank N. A. acquired a new stake in shares of Monster Beverage during the second quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. boosted 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 worth $42,000 after buying an additional 196 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Monster Beverage during the first quarter worth about $43,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Monster Beverage during the second quarter worth about $55,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 7.80% of the company's stock.

Monster Beverage Stock Up 1.6%

NASDAQ MNST opened at $68.15 on Wednesday. The stock has a market capitalization of $66.54 billion, a P/E ratio of 42.33, a P/E/G ratio of 2.33 and a beta of 0.54. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $68.28. The firm has a 50-day moving average price of $63.74 and a 200 day moving average price of $61.75.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results 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 net margin of 20.54% and a return on equity of 27.46%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, equities research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MNST. Roth Capital reiterated a "neutral" rating and set a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Wall Street Zen downgraded shares of Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price for the company. in a research note on Wednesday, July 9th. Royal Bank Of Canada set a $68.00 target price on shares of Monster Beverage and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company set a $73.00 target price on shares of Monster Beverage and gave the stock an "overweight" rating in a research note on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $65.19.

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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