Marks Group Wealth Management Inc Decreases Holdings in Monster Beverage Corporation $MNST

Marks Group Wealth Management Inc trimmed its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,383 shares of the company’s stock after selling 1,431 shares during the period. Marks Group Wealth Management Inc’s holdings in Monster Beverage were worth $4,910,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MNST. Wayfinding Financial LLC purchased a new position in Monster Beverage during the first quarter valued at $29,000. Webster Bank N. A. purchased a new position in Monster Beverage during the second quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings 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 purchasing an additional 196 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Monster Beverage during the first quarter valued at $43,000. Finally, Ameritas Advisory Services LLC purchased a new position in Monster Beverage during the second quarter valued at $55,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of MNST opened at $67.17 on Monday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $67.89. The stock has a market cap of $65.59 billion, a PE ratio of 41.72, a P/E/G ratio of 2.34 and a beta of 0.54. The firm has a 50-day simple moving average of $63.47 and a two-hundred day simple moving average of $61.64.

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

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MNST shares. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the company an “overweight” rating in a report on Friday, August 8th. Stifel Nicolaus began coverage on shares of Monster Beverage in a research report on Thursday, June 12th. They issued a “buy” rating and a $72.00 target price for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monster Beverage in a research report on Saturday, September 27th. JPMorgan Chase & Co. increased their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Finally, Rothschild & Co Redburn cut shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Wednesday, July 9th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.19.

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.