Ritholtz Wealth Management Raises Holdings in Monster Beverage Corporation $MNST

Key Points

• Ritholtz Wealth Management increased its holdings in Monster Beverage Corporation by 203.3% during Q2, owning 15,583 shares valued at approximately $976,000.
• Insider activity includes Director Mark Vidergauz selling 10,000 shares at an average price of $63.73, reducing his position by 16.34%.
• Monster Beverage reported better-than-expected earnings with $0.52 EPS, exceeding analysts' expectations and reflecting an 11.1% year-over-year revenue increase to $2.11 billion.

Ritholtz Wealth Management grew its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 203.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,583 shares of the company's stock after purchasing an additional 10,445 shares during the quarter. Ritholtz Wealth Management's holdings in Monster Beverage were worth $976,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MNST. Wayfinding Financial LLC purchased a new position in shares of Monster Beverage during the first quarter worth about $29,000. Webster Bank N. A. purchased a new position in shares of Monster Beverage during the second quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Monster Beverage by 37.1% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after buying an additional 196 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Monster Beverage during the first quarter worth about $43,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Monster Beverage during the second quarter worth about $55,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.30% of the company's stock.

Monster Beverage Trading Up 0.1%

MNST stock opened at $70.22 on Friday. The firm has a 50 day moving average of $65.12 and a 200-day moving average of $62.34. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $70.65. The company has a market cap of $68.56 billion, a price-to-earnings ratio of 43.61, a PEG ratio of 2.44 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly 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. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm earned $0.41 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MNST has been the topic of a number of research reports. UBS Group raised their price target on Monster Beverage from $67.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Bank of America raised their price objective on shares of Monster Beverage from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $54.00 to $74.00 in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Monster Beverage from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Roth Capital restated a "neutral" rating and issued a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of "Hold" and a consensus target price of $66.05.

Monster Beverage 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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