Sovran Advisors LLC Takes $393,000 Position in Monster Beverage Corporation $MNST

Key Points

• Sovran Advisors LLC has acquired a new position in Monster Beverage Corporation, purchasing 6,373 shares worth approximately $393,000 in the second quarter.
• Following recent transactions, institutional investors now own 72.36% of Monster's stock, while corporate insiders hold 8.30%.
• Analysts have set varying price targets for Monster Beverage, with Morgan Stanley raising their target to $74.00, indicating a generally positive outlook with potential for further growth.

Sovran Advisors LLC purchased a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,373 shares of the company's stock, valued at approximately $393,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Monster Beverage during the first quarter valued at about $29,000. Park Square Financial Group LLC bought a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $36,000. Webster Bank N. A. bought a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $38,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of 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 period. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Monster Beverage in the 1st quarter valued at approximately $43,000. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

Shares of NASDAQ MNST traded down $0.80 during midday trading on Tuesday, reaching $63.18. The company's stock had a trading volume of 517,371 shares, compared to its average volume of 6,038,370. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $67.13. The business's 50 day moving average price is $62.25 and its two-hundred day moving average price is $60.98. The company has a market cap of $61.69 billion, a P/E ratio of 39.26, a P/E/G ratio of 2.23 and a beta of 0.54.

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, 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 in the previous year, the business earned $0.41 earnings per share. The firm's quarterly revenue 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.

Insider Buying and Selling at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following 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 SEC, which is available through the SEC website. Insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup upped their price objective on Monster Beverage from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the company an "overweight" rating in a research report on Friday, August 8th. The Goldman Sachs Group lifted their price objective on Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Wall Street Zen downgraded Monster Beverage from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Redburn Atlantic downgraded Monster Beverage from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $65.19.

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.