M3 Advisory Group LLC Sells 202 Shares of Monster Beverage Corporation $MNST

M3 Advisory Group LLC lessened its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 5.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,276 shares of the company’s stock after selling 202 shares during the period. M3 Advisory Group LLC’s holdings in Monster Beverage were worth $205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors 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 approximately $29,000. Webster Bank N. A. bought a new position in Monster Beverage during the second quarter valued at approximately $38,000. Migdal Insurance & Financial Holdings Ltd. raised its position in Monster Beverage by 37.1% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after acquiring an additional 196 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Monster Beverage during the first quarter valued at approximately $43,000. Finally, Ameritas Advisory Services LLC bought a new position in Monster Beverage during the second quarter valued at approximately $55,000. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Rothschild & Co Redburn lowered shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price objective on the stock. in a research report on Wednesday, July 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monster Beverage in a research report on Wednesday, October 8th. Citigroup reissued a “buy” rating and issued a $79.00 price target (up previously from $76.00) on shares of Monster Beverage in a research report on Thursday. Royal Bank Of Canada lifted their price target on shares of Monster Beverage from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Redburn Atlantic lowered shares of Monster Beverage from a “strong-buy” rating to a “hold” rating and dropped their price target for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of “Hold” and an average price target of $66.05.

Monster Beverage Trading Up 0.9%

Shares of Monster Beverage stock opened at $69.62 on Monday. The company’s fifty day simple moving average is $64.31 and its 200-day simple moving average is $62.01. The company has a market cap of $67.98 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.06.

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

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the firm’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 in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 8.30% of the company’s stock.

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.