Petros Family Wealth LLC Makes New $366,000 Investment in Monster Beverage Corporation $MNST

Petros Family Wealth LLC acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,850 shares of the company's stock, valued at approximately $366,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC raised its position in Monster Beverage by 1.0% in the 2nd quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company's stock valued at $1,064,000 after purchasing an additional 174 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Monster Beverage by 4.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock valued at $286,000 after purchasing an additional 189 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after purchasing an additional 196 shares during the last quarter. Conning Inc. raised its position in Monster Beverage by 3.9% in the 1st quarter. Conning Inc. now owns 5,853 shares of the company's stock valued at $343,000 after purchasing an additional 219 shares during the last quarter. Finally, Eastern Bank raised its position in Monster Beverage by 3.0% in the 1st quarter. Eastern Bank now owns 7,527 shares of the company's stock valued at $440,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

MNST has been the subject of several research reports. Roth Capital reiterated a "neutral" rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Stifel Nicolaus assumed coverage on shares of Monster Beverage in a research report on Thursday, June 12th. They issued a "buy" rating and a $72.00 price target for the company. Citigroup boosted their price objective on shares of Monster Beverage from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Piper Sandler raised shares of 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 research note on Thursday, August 7th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Monster Beverage in a research note on Saturday, September 27th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $65.19.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company's 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.80% of the company's stock.

Monster Beverage Trading Down 0.6%

NASDAQ:MNST opened at $67.17 on Monday. The firm has a market cap of $65.59 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.54. The company's 50-day moving average is $63.47 and its two-hundred day moving average is $61.64. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $67.89.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results 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 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 firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. On average, equities research analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

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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