NorthCrest Asset Manangement LLC Boosts Stock Position in Monster Beverage Corporation $MNST

Key Points

• NorthCrest Asset Management LLC increased its holdings in Monster Beverage Corporation by 86.5% in Q2, owning 13,186 shares worth approximately $832,000.
• Monster Beverage reported an EPS of $0.52 for the last quarter, beating estimates, with revenue rising 11.1% year-over-year to $2.11 billion.
• Analysts have a consensus rating of "Hold" for Monster Beverage, with target prices ranging from $60 to $74, reflecting various perspectives on the stock's future performance.

NorthCrest Asset Manangement LLC boosted its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 86.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,186 shares of the company's stock after purchasing an additional 6,116 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Monster Beverage were worth $832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Monster Beverage in the 1st quarter worth approximately $29,000. Park Square Financial Group LLC purchased a new stake in shares of Monster Beverage during the 4th quarter worth approximately $36,000. Webster Bank N. A. purchased a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Monster Beverage by 37.1% during the 1st 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. Finally, Banque Cantonale Vaudoise purchased a new stake in Monster Beverage during the 1st quarter valued at $43,000. 72.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Rothschild & Co Redburn lowered Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target on the stock. in a report on Wednesday, July 9th. Stifel Nicolaus began coverage on Monster Beverage in a research report on Thursday, June 12th. They set a "buy" rating and a $72.00 price target on the stock. Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Citigroup increased their price target on Monster Beverage from $74.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Finally, The Goldman Sachs Group raised their price objective on Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Twelve investment 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 MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $65.19.

Monster Beverage Stock Down 1.2%

Shares of NASDAQ:MNST traded down $0.77 during trading on Tuesday, hitting $63.21. The stock had a trading volume of 676,527 shares, compared to its average volume of 6,038,763. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $67.13. The stock has a market capitalization of $61.72 billion, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 2.23 and a beta of 0.54. The stock has a 50-day simple moving average of $62.25 and a two-hundred day simple moving average of $60.98.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced 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%.The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. As a group, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.80% of the company's stock.

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.