Sagespring Wealth Partners LLC Boosts Position in Monster Beverage Corporation $MNST

Sagespring Wealth Partners LLC lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 27.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,645 shares of the company’s stock after acquiring an additional 1,839 shares during the period. Sagespring Wealth Partners LLC’s holdings in Monster Beverage were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MNST. Wayfinding Financial LLC purchased a new position in shares of Monster Beverage during the 1st quarter worth $29,000. Webster Bank N. A. purchased a new stake in Monster Beverage in the 2nd quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Monster Beverage by 37.1% in the 1st 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. Banque Cantonale Vaudoise purchased a new stake in Monster Beverage in the 1st quarter valued at about $43,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Monster Beverage in the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MNST. UBS Group boosted their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Bank of America boosted their price objective on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.05.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $70.16 on Friday. The firm has a market capitalization of $68.51 billion, a PE ratio of 43.58, a price-to-earnings-growth ratio of 2.39 and a beta of 0.54. The firm’s 50-day moving average is $65.01 and its two-hundred day moving average is $62.24. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.51.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal 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.