TD Private Client Wealth LLC Takes $562,000 Position in Monster Beverage Corporation $MNST

Key Points

• TD Private Client Wealth LLC acquired $562,000 worth of shares in Monster Beverage Corporation, purchasing 8,965 shares in the second quarter.
• Monster Beverage recently reported earnings of $0.52 per share, surpassing expectations and showing a significant year-over-year revenue increase of 11.1%.
• Wall Street analysts have mixed ratings on Monster Beverage, with a consensus average target price of $65.19 and twelve analysts rating the stock as a "Buy."

TD Private Client Wealth LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,965 shares of the company's stock, valued at approximately $562,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. boosted its position in shares of Monster Beverage by 4.0% in the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock worth $286,000 after buying an additional 189 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after acquiring an additional 196 shares in the last quarter. Conning Inc. boosted its holdings in Monster Beverage by 3.9% in the 1st quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after acquiring an additional 219 shares during the period. Eastern Bank grew its position in Monster Beverage by 3.0% in the first quarter. Eastern Bank now owns 7,527 shares of the company's stock valued at $440,000 after acquiring an additional 221 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its stake in shares of Monster Beverage by 21.2% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock valued at $77,000 after purchasing an additional 230 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MNST shares. Morgan Stanley raised their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Rothschild & Co Redburn downgraded Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price for the company. in a research note on Wednesday, July 9th. Redburn Atlantic cut Monster Beverage from a "strong-buy" rating to a "hold" rating and cut their price target for the stock from $63.00 to $60.00 in a research note on Wednesday, July 9th. Roth Capital reissued a "neutral" rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Finally, The Goldman Sachs Group lifted their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Twelve 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $65.19.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm'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 owned 51,191 shares of the company's stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.30% of the stock is currently owned by company insiders.

Monster Beverage Stock Up 1.2%

Shares of NASDAQ MNST opened at $65.34 on Friday. The stock's 50 day moving average price is $62.72 and its two-hundred day moving average price is $61.21. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $67.13. The stock has a market capitalization of $63.80 billion, a P/E ratio of 40.58, a PEG ratio of 2.27 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued 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 return on equity of 27.46% and a net margin of 20.54%.The business 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 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

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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