NorthRock Partners LLC Has $840,000 Holdings in Monster Beverage Corporation $MNST

Key Points

• NorthRock Partners LLC has increased its holdings in Monster Beverage Corporation by 113.0%, now owning 13,412 shares worth approximately $840,000 as of the latest SEC filing.
• Several institutional investors have also raised their stakes in Monster Beverage, with 72.36% of the stock now owned by institutional investors and hedge funds.
• Monster Beverage reported a quarterly EPS of $0.52, surpassing analyst expectations, and achieved a revenue of $2.11 billion, reflecting an 11.1% year-over-year increase.

NorthRock Partners LLC raised its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 113.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,412 shares of the company's stock after buying an additional 7,115 shares during the quarter. NorthRock Partners LLC's holdings in Monster Beverage were worth $840,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MNST. GAMMA Investing LLC lifted its stake in Monster Beverage by 2.2% in the first quarter. GAMMA Investing LLC now owns 21,433 shares of the company's stock valued at $1,254,000 after buying an additional 460 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Monster Beverage by 28.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company's stock valued at $2,136,000 after buying an additional 8,155 shares during the period. Ritholtz Wealth Management lifted its stake in Monster Beverage by 5.5% in the first quarter. Ritholtz Wealth Management now owns 5,138 shares of the company's stock valued at $301,000 after buying an additional 267 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Monster Beverage by 142.1% during the first quarter. Exchange Traded Concepts LLC now owns 15,643 shares of the company's stock valued at $915,000 after acquiring an additional 9,181 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Monster Beverage during the first quarter valued at approximately $336,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Monster Beverage

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

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $68.61 on Wednesday. The company has a market capitalization of $66.99 billion, a PE ratio of 42.61, a price-to-earnings-growth ratio of 2.33 and a beta of 0.54. The business has a fifty day moving average price of $64.64 and a two-hundred day moving average price of $62.12. 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 announced its quarterly earnings data 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 firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business'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 EPS. Sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on Monster Beverage from $68.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, October 10th. UBS Group boosted their price objective on Monster Beverage from $67.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, October 8th. Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the company an "overweight" rating in a report on Friday, August 8th. Piper Sandler upgraded Monster Beverage from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Monster Beverage in a report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Monster Beverage has a consensus 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.

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.