Perigon Wealth Management LLC purchased a new position in shares of Monster Beverage Corp (NASDAQ:MNST) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,643 shares of the company’s stock, valued at approximately $322,000.
Other large investors also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Monster Beverage during the first quarter worth approximately $27,000. Balentine LLC bought a new stake in Monster Beverage during the first quarter worth $41,000. Verus Capital Partners LLC bought a new stake in Monster Beverage during the fourth quarter worth $64,000. Valeo Financial Advisors LLC lifted its stake in Monster Beverage by 12.2% during the second quarter. Valeo Financial Advisors LLC now owns 1,308 shares of the company’s stock worth $91,000 after purchasing an additional 142 shares during the last quarter. Finally, Pendal Group Ltd bought a new stake in Monster Beverage during the first quarter worth $94,000. 64.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:MNST opened at $78.48 on Friday. The firm has a market cap of $41.32 billion, a P/E ratio of 37.91, a P/E/G ratio of 4.37 and a beta of 1.05. Monster Beverage Corp has a 12-month low of $50.06 and a 12-month high of $78.48. The business has a fifty day simple moving average of $71.28 and a 200 day simple moving average of $66.14.
Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $995.97 million. Monster Beverage had a return on equity of 27.77% and a net margin of 26.07%. Monster Beverage’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. On average, equities analysts anticipate that Monster Beverage Corp will post 2.09 earnings per share for the current fiscal year.
In other Monster Beverage news, insider Guy Carling sold 27,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $67.24, for a total transaction of $1,815,480.00. Following the completion of the sale, the insider now directly owns 47,885 shares in the company, valued at approximately $3,219,787.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Emelie Tirre sold 84,465 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $66.41, for a total value of $5,609,320.65. Following the sale, the insider now owns 96,903 shares of the company’s stock, valued at $6,435,328.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,108 shares of company stock valued at $13,486,804. Company insiders own 10.60% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Monster Beverage from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, April 13th. JPMorgan Chase & Co. cut their target price on Monster Beverage from $68.00 to $63.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Morgan Stanley upped their target price on Monster Beverage from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, July 13th. Credit Suisse Group restated a “buy” rating and set a $78.00 target price on shares of Monster Beverage in a research note on Friday, May 8th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $67.00 price target on shares of Monster Beverage in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $70.24.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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