Sage Mountain Advisors LLC Boosts Holdings in Monster Beverage Corporation $MNST

Sage Mountain Advisors LLC raised its stake in Monster Beverage Corporation (NASDAQ:MNST) by 18.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,696 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Monster Beverage were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MNST. Ashton Thomas Securities LLC increased its position in Monster Beverage by 1.0% in the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock worth $1,064,000 after buying an additional 174 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in Monster Beverage by 4.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock worth $286,000 after acquiring an additional 189 shares during the last quarter. Accretive Wealth Partners LLC raised its stake in Monster Beverage by 1.0% in the 2nd quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock valued at $1,263,000 after acquiring an additional 190 shares during the period. Rehmann Capital Advisory Group lifted its holdings in Monster Beverage by 2.9% during the second quarter. Rehmann Capital Advisory Group now owns 6,704 shares of the company’s stock valued at $420,000 after purchasing an additional 191 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted 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 worth $42,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Monster Beverage stock opened at $69.69 on Friday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.72. The stock has a market cap of $68.05 billion, a P/E ratio of 43.29, a PEG ratio of 2.42 and a beta of 0.54. The firm’s fifty day moving average price is $65.67 and its 200-day moving average price is $62.79.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.08 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Sell-side analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MNST has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Monster Beverage from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday. Wall Street Zen cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Stifel Nicolaus lifted their price target on Monster Beverage from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Friday. Finally, Morgan Stanley increased their price objective on Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a 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 issued a Sell rating to the company. According to data from MarketBeat, Monster Beverage currently has a consensus rating of “Hold” and a consensus price target of $66.43.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 in the company, valued at $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Company 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.