Donoghue Forlines LLC Purchases New Stake in Monster Beverage Corporation $MNST

Donoghue Forlines LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 43,178 shares of the company’s stock, valued at approximately $2,705,000.

Other large investors have also bought and sold shares of the company. CWM LLC boosted its position in Monster Beverage by 1.4% in the first quarter. CWM LLC now owns 17,793 shares of the company’s stock valued at $1,041,000 after buying an additional 254 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Monster Beverage by 5.8% in the first quarter. Bleakley Financial Group LLC now owns 14,365 shares of the company’s stock valued at $841,000 after purchasing an additional 787 shares during the period. Edgestream Partners L.P. bought a new position in shares of Monster Beverage during the first quarter worth about $3,479,000. Apollon Wealth Management LLC lifted its stake in shares of Monster Beverage by 6.3% in the first quarter. Apollon Wealth Management LLC now owns 15,414 shares of the company’s stock worth $902,000 after acquiring an additional 918 shares during the period. Finally, Wealthfront Advisers LLC boosted its holdings in Monster Beverage by 25.4% in the first quarter. Wealthfront Advisers LLC now owns 78,739 shares of the company’s stock valued at $4,608,000 after acquiring an additional 15,964 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MNST shares. Stifel Nicolaus raised their price target on shares of Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Morgan Stanley reissued an “overweight” rating and set a $81.00 target price (up previously from $74.00) on shares of Monster Beverage in a research note on Friday, November 7th. Jefferies Financial Group restated a “buy” rating and issued a $79.00 target price on shares of Monster Beverage in a report on Tuesday, November 4th. The Goldman Sachs Group increased their price target on Monster Beverage from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company boosted their price objective on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Thirteen 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $69.62.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $71.08 on Friday. The business has a 50-day simple moving average of $67.22 and a 200 day simple moving average of $63.77. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $72.62. The firm has a market capitalization of $69.40 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

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.