Portside Wealth Group LLC Buys 1,633 Shares of Monster Beverage Corporation $MNST

Portside Wealth Group LLC raised its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 9.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,967 shares of the company’s stock after acquiring an additional 1,633 shares during the quarter. Portside Wealth Group LLC’s holdings in Monster Beverage were worth $1,188,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC increased its position in shares of Monster Beverage by 1.0% during the 2nd quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock worth $1,064,000 after purchasing an additional 174 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Monster Beverage by 4.0% during the first 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 increased its holdings in shares of Monster Beverage by 1.0% during the second quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock worth $1,263,000 after buying an additional 190 shares in the last quarter. Rehmann Capital Advisory Group raised its stake 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, Blue Trust Inc. boosted its holdings in shares of Monster Beverage by 6.7% in the 2nd quarter. Blue Trust Inc. now owns 3,293 shares of the company’s stock worth $206,000 after acquiring an additional 207 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MNST. Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a report on Monday. Piper Sandler upped their price target on shares of Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Citigroup restated a “buy” rating and issued a $79.00 price objective (up previously from $76.00) on shares of Monster Beverage in a research report on Thursday, October 9th. Finally, Wells Fargo & Company upped their target price on shares of Monster Beverage from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.62.

Monster Beverage Trading Up 1.5%

Monster Beverage stock opened at $72.90 on Wednesday. The firm has a market capitalization of $71.22 billion, a P/E ratio of 45.28, a PEG ratio of 2.31 and a beta of 0.53. The business has a 50-day moving average of $67.76 and a 200-day moving average of $64.10. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $73.07.

Monster Beverage (NASDAQ:MNST) last released 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. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business 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. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. Research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Activity at Monster Beverage

In related news, insider Guy Carling sold 38,438 shares of Monster Beverage stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the sale, the insider owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. This trade represents a 63.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.30% of the stock is currently owned by company 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.