Crestwood Advisors Group LLC Sells 749 Shares of Monster Beverage Corporation $MNST

Crestwood Advisors Group LLC lessened its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 12.8% during the second quarter, HoldingsChannel.com reports. The firm owned 5,119 shares of the company’s stock after selling 749 shares during the period. Crestwood Advisors Group LLC’s holdings in Monster Beverage were worth $321,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC increased its stake in Monster Beverage by 1.0% in the 2nd quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock valued at $1,064,000 after buying an additional 174 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Monster Beverage by 4.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock worth $286,000 after buying an additional 189 shares during the last quarter. Accretive Wealth Partners LLC grew its holdings in shares of 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 in the last quarter. Rehmann Capital Advisory Group increased its position in shares of Monster Beverage by 2.9% in the second quarter. Rehmann Capital Advisory Group now owns 6,704 shares of the company’s stock valued at $420,000 after acquiring an additional 191 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings 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 acquiring an additional 196 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST opened at $69.73 on Friday. The firm has a market cap of $68.09 billion, a P/E ratio of 43.31, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $72.62. The firm’s 50-day simple moving average is $66.59 and its 200 day simple moving average is $63.44.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MNST. Royal Bank Of Canada reissued an “outperform” rating on shares of Monster Beverage in a research report on Thursday. Wells Fargo & Company increased their price objective on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler boosted their target price on shares of Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 price target on shares of Monster Beverage in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Friday. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.41.

Insiders Place Their Bets

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The stock was 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 of the company’s stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.

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.