Wealth Enhancement Advisory Services LLC Grows Holdings in Monster Beverage Corporation $MNST

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Monster Beverage Corporation by 178.0% during the second quarter, holding 101,487 shares worth approximately $6.4 million at the end of the period.
• Monster Beverage reported $2.11 billion in revenue for the most recent quarter, surpassing estimates, and achieved an earnings per share of $0.52, exceeding analyst expectations by $0.04.
• Insider sales were noted, with Director Mark Vidergauz selling 10,000 shares at an average price of $63.73, reducing his ownership by 16.34%.

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 178.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,487 shares of the company's stock after acquiring an additional 64,986 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Monster Beverage were worth $6,402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MNST. Wayfinding Financial LLC purchased a new position in shares of Monster Beverage during the first quarter valued at approximately $29,000. Park Square Financial Group LLC bought a new position in Monster Beverage during the 4th quarter valued at approximately $36,000. Webster Bank N. A. purchased a new position in Monster Beverage during the second quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Monster Beverage by 37.1% in the first 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. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Monster Beverage in the first quarter worth $43,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Stock Up 0.8%

Monster Beverage stock opened at $64.48 on Wednesday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $67.13. The company has a market cap of $62.96 billion, a P/E ratio of 40.05, a P/E/G ratio of 2.23 and a beta of 0.54. The business has a 50-day simple moving average of $62.36 and a two-hundred day simple moving average of $61.00.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the firm posted $0.41 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on MNST. UBS Group upped their price target on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price on the stock. in a research note on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. The Goldman Sachs Group upped 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. Finally, Royal Bank Of Canada set a $68.00 target price on Monster Beverage and gave the company an "outperform" rating in a research note on Friday, August 8th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Monster Beverage currently has an average rating of "Hold" and an average price target of $65.19.

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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