Moran Wealth Management LLC Takes Position in Monster Beverage Corporation $MNST

Key Points

• Moran Wealth Management LLC has acquired 185,152 shares of Monster Beverage Corporation, valued at approximately $11.6 million, indicating growing interest from institutional investors in the company.
• Monster Beverage reported a quarterly EPS of $0.52, exceeding analysts' expectations, with revenue of $2.11 billion, a year-over-year increase of 11.1%.
• The stock has received mixed ratings from analysts, with target prices ranging from $60.00 to $79.00, alongside a consensus average price target of $66.05.

Moran Wealth Management LLC purchased a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 185,152 shares of the company's stock, valued at approximately $11,598,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Wealth Group LLC acquired a new position in shares of Monster Beverage during the 2nd quarter valued at about $240,000. NorthRock Partners LLC boosted its position in shares of Monster Beverage by 113.0% during the 2nd quarter. NorthRock Partners LLC now owns 13,412 shares of the company's stock valued at $840,000 after acquiring an additional 7,115 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Monster Beverage by 20.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 60,992 shares of the company's stock valued at $3,821,000 after acquiring an additional 10,151 shares during the last quarter. Vest Financial LLC lifted its position in Monster Beverage by 13.7% in the second quarter. Vest Financial LLC now owns 4,803 shares of the company's stock valued at $301,000 after buying an additional 578 shares during the last quarter. Finally, MGO One Seven LLC lifted its position in Monster Beverage by 7.9% in the second quarter. MGO One Seven LLC now owns 7,083 shares of the company's stock valued at $444,000 after buying an additional 519 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $67.15 on Tuesday. The firm has a market capitalization of $65.57 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. The firm's 50-day moving average is $64.45 and its two-hundred day moving average is $62.07. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.06.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. Analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. 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 report on Wednesday, July 9th. Citigroup reaffirmed a "buy" rating and issued a $79.00 target price (up previously from $76.00) on shares of Monster Beverage in a research report on Thursday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Monster Beverage in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on shares of Monster Beverage from $68.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Piper Sandler raised shares of Monster Beverage from a "neutral" rating to an "overweight" rating and upped their target price for the company from $54.00 to $74.00 in a research report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Monster Beverage has an average rating of "Hold" and an average price target of $66.05.

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.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.