Monster Beverage Corporation $MNST Shares Bought by PAX Financial Group LLC

PAX Financial Group LLC grew its stake in Monster Beverage Corporation (NASDAQ:MNST) by 10.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,087 shares of the company’s stock after buying an additional 1,067 shares during the quarter. PAX Financial Group LLC’s holdings in Monster Beverage were worth $694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC boosted its position in Monster Beverage by 1.4% in the 1st quarter. CWM LLC now owns 17,793 shares of the company’s stock worth $1,041,000 after purchasing an additional 254 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Monster Beverage by 511.3% during the first quarter. Larson Financial Group LLC now owns 1,675 shares of the company’s stock worth $98,000 after buying an additional 1,401 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew 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 buying an additional 196 shares during the period. Kestra Private Wealth Services LLC grew its position in Monster Beverage by 10.1% during the first quarter. Kestra Private Wealth Services LLC now owns 17,159 shares of the company’s stock valued at $1,004,000 after buying an additional 1,567 shares during the period. Finally, Twin Capital Management Inc. increased its holdings in Monster Beverage by 11.6% in the first quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock valued at $305,000 after buying an additional 540 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on MNST. Citigroup reissued a “buy” rating and set a $79.00 target price (up from $76.00) on shares of Monster Beverage in a research note on Thursday, October 9th. Bank of America raised their price objective on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday, November 7th. Piper Sandler upped their target price on Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Wells Fargo & Company lifted their price target on shares of Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Roth Capital restated a “neutral” rating and set a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.62.

Monster Beverage Trading Up 0.3%

NASDAQ:MNST opened at $71.31 on Monday. The company has a market cap of $69.67 billion, a P/E ratio of 44.29, a P/E/G ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $72.62. The company’s 50-day moving average price is $67.39 and its 200-day moving average price is $63.92.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the company earned $0.41 EPS. Monster Beverage’s revenue was up 16.8% compared to the same quarter last year. On average, analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Monster Beverage 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.