Sage Private Wealth Group LLC Makes New $401,000 Investment in Monster Beverage Corporation $MNST

Key Points

• Sage Private Wealth Group LLC invested approximately $401,000 in Monster Beverage Corporation, acquiring 6,397 shares during the second quarter.
• Monster Beverage reported earnings of $0.52 EPS for the last quarter, exceeding analysts' expectations, with revenues reaching $2.11 billion.
• Several analysts have raised their price targets for Monster Beverage, with Bank of America increasing the target from $72.00 to $75.00 and maintaining a "buy" rating.

Sage Private Wealth Group LLC acquired a new position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,397 shares of the company's stock, valued at approximately $401,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in Monster Beverage by 2.2% during the 1st quarter. GAMMA Investing LLC now owns 21,433 shares of the company's stock worth $1,254,000 after purchasing an additional 460 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Monster Beverage by 28.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company's stock worth $2,136,000 after purchasing an additional 8,155 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Monster Beverage by 5.5% during the first quarter. Ritholtz Wealth Management now owns 5,138 shares of the company's stock worth $301,000 after purchasing an additional 267 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Monster Beverage by 142.1% in the first quarter. Exchange Traded Concepts LLC now owns 15,643 shares of the company's stock worth $915,000 after buying an additional 9,181 shares during the period. Finally, Sowell Financial Services LLC acquired a new stake in shares of Monster Beverage in the first quarter valued at about $336,000. Institutional investors and hedge funds own 72.36% of the company's stock.

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 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 sale, the director owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 8.30% of the stock is owned by insiders.

Monster Beverage Price Performance

Shares of MNST stock opened at $70.16 on Friday. The firm has a fifty day moving average of $65.01 and a two-hundred day moving average of $62.24. The firm has a market cap of $68.51 billion, a P/E ratio of 43.58, a P/E/G ratio of 2.39 and a beta of 0.54. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $70.51.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued 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. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business posted $0.41 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on MNST shares. Bank of America increased 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. UBS Group upped their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada raised their target price on Monster Beverage from $68.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.

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