Cyndeo Wealth Partners LLC Purchases New Position in Monster Beverage Corporation $MNST

Cyndeo Wealth Partners LLC purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST) in the 2nd quarter, HoldingsChannel reports. The firm purchased 5,774 shares of the company’s stock, valued at approximately $362,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Capital Management Inc. increased its stake in shares of Monster Beverage by 11.6% in the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock valued at $305,000 after purchasing an additional 540 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Monster Beverage by 2.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company’s stock valued at $18,475,000 after purchasing an additional 7,465 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Monster Beverage by 76.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company’s stock valued at $3,915,000 after purchasing an additional 28,932 shares in the last quarter. OMNI 360 Wealth Inc. purchased a new position in shares of Monster Beverage in the 2nd quarter valued at about $365,000. Finally, Principal Financial Group Inc. increased its stake in Monster Beverage by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company’s stock worth $75,455,000 after buying an additional 11,443 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the subject of several research reports. UBS Group boosted their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Monster Beverage from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th. Roth Capital reiterated a “neutral” rating and set a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Bank of America boosted their price objective on Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price objective on Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $66.05.

Monster Beverage Price Performance

MNST stock opened at $69.62 on Friday. The business has a 50 day simple moving average of $64.31 and a 200-day simple moving average of $61.98. The firm has a market capitalization of $67.98 billion, a PE ratio of 43.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.06.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. On average, equities research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

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.