Salomon & Ludwin LLC Invests $28,000 in Monster Beverage Corporation $MNST

Salomon & Ludwin LLC purchased a new position in Monster Beverage Corporation (NASDAQ:MNST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 440 shares of the company’s stock, valued at approximately $28,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Monster Beverage by 1.8% in the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after purchasing an additional 1,151,175 shares in the last quarter. Invesco Ltd. boosted its stake in Monster Beverage by 6.6% during the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock valued at $535,712,000 after buying an additional 563,353 shares in the last quarter. Ninety One UK Ltd grew its holdings in Monster Beverage by 4.9% during the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock worth $560,282,000 after acquiring an additional 418,918 shares during the period. Nuveen LLC bought a new stake in Monster Beverage in the first quarter worth about $497,157,000. Finally, Northern Trust Corp raised its position in Monster Beverage by 1.0% in the first quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock worth $434,901,000 after acquiring an additional 73,737 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MNST. Roth Capital restated a “neutral” rating and set a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Morgan Stanley raised their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Bank of America increased their price objective on Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Rothschild & Co Redburn downgraded Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Wednesday, July 9th. Thirteen 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $66.05.

Monster Beverage Stock Up 0.1%

NASDAQ:MNST opened at $70.22 on Monday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $70.65. The firm has a market capitalization of $68.56 billion, a price-to-earnings ratio of 43.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.54. The stock has a fifty day simple moving average of $65.12 and a 200 day simple moving average of $62.36.

Monster Beverage (NASDAQ:MNST) last released 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 analyst estimates of $2.08 billion. During the same quarter last year, the company posted $0.41 EPS. Monster Beverage’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the 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 completion of the sale, the director directly owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.80% 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.