Vivid Wealth Management LLC Purchases Shares of 37,351 Monster Beverage Corporation $MNST

Key Points

• Vivid Wealth Management LLC acquired 37,351 shares of Monster Beverage Corporation, valued at approximately $2.34 million, as reported in its recent SEC filing.
• Monster Beverage reported quarterly earnings with a revenue of $2.11 billion and an EPS of $0.52, exceeding analyst expectations.
• Analysts have set multiple price targets for Monster Beverage, with Bank of America increasing its target from $72 to $75, reflecting positive market sentiment.

Vivid Wealth Management LLC bought a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 37,351 shares of the company's stock, valued at approximately $2,340,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Monster Beverage in the 1st quarter valued at $29,000. Webster Bank N. A. acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. boosted 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 in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Monster Beverage in the 1st quarter valued at $43,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $55,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Trading Up 0.4%

Shares of NASDAQ:MNST opened at $69.03 on Friday. The stock has a market capitalization of $67.40 billion, a P/E ratio of 42.88, 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 $69.28. The business has a 50-day moving average price of $64.10 and a two-hundred day moving average price of $61.87.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. As a group, equities analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on MNST. Stifel Nicolaus assumed coverage on shares of Monster Beverage in a research note on Thursday, June 12th. They issued a "buy" rating and a $72.00 target price on the stock. Roth Capital reiterated a "neutral" rating and set a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Bank of America upped their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday. Wells Fargo & Company set a $73.00 price target on shares of Monster Beverage and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Morgan Stanley upped their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $65.71.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was 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 of the company's stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company's stock.

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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