OMNI 360 Wealth Inc. Makes New Investment in Monster Beverage Corporation $MNST

Key Points

• OMNI 360 Wealth Inc. has acquired a new position in Monster Beverage Corporation, purchasing 5,833 shares valued at approximately $365,000 during the 2nd quarter.
• Monster Beverage's recent quarterly earnings showed a profit of $0.52 per share, exceeding expectations, with revenues of $2.11 billion, up 11.1% year-over-year.
• Several analysts have updated their ratings for Monster Beverage, with twelve recommending a Buy, while the average target price is currently set at $65.10.

OMNI 360 Wealth Inc. purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,833 shares of the company's stock, valued at approximately $365,000.

Other large investors also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. grew its stake in Monster Beverage by 286.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 67,885 shares of the company's stock worth $3,568,000 after buying an additional 50,339 shares during the last quarter. Focus Partners Wealth acquired a new stake in Monster Beverage during the 4th quarter worth approximately $984,000. NorthRock Partners LLC acquired a new stake in Monster Beverage during the 4th quarter worth approximately $377,000. Raiffeisen Bank International AG acquired a new stake in Monster Beverage during the 4th quarter worth approximately $189,000. Finally, Royal Bank of Canada lifted its position in Monster Beverage by 31.8% during the 4th quarter. Royal Bank of Canada now owns 1,866,129 shares of the company's stock worth $98,083,000 after acquiring an additional 449,842 shares during the period. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

MNST has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Stifel Nicolaus initiated coverage on Monster Beverage in a report on Thursday, June 12th. They issued a "buy" rating and a $72.00 price target for the company. Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and raised their price target for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Redburn Atlantic cut Monster Beverage from a "strong-buy" rating to a "hold" rating and reduced their price target for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. Finally, Citigroup raised their price target on Monster Beverage from $70.00 to $74.00 and gave the company a "buy" rating in a report on Friday, August 8th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $65.10.

Monster Beverage Stock Performance

Monster Beverage stock opened at $64.69 on Friday. The stock has a fifty day moving average of $61.69 and a two-hundred day moving average of $60.50. The company has a market capitalization of $63.17 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 2.22 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $66.75.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The company 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%.Monster Beverage's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. On average, analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

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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