Monster Beverage Corporation $MNST Position Raised by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its stake in Monster Beverage Corporation (NASDAQ:MNST) by 13.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,239 shares of the company’s stock after buying an additional 1,102 shares during the quarter. Venturi Wealth Management LLC’s holdings in Monster Beverage were worth $579,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC increased its position in shares of Monster Beverage by 1.0% during the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock valued at $1,064,000 after purchasing an additional 174 shares during the period. Pinnacle Associates Ltd. increased its position in shares of Monster Beverage by 4.0% during the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock valued at $286,000 after purchasing an additional 189 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of 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 during the period. Conning Inc. increased its position in shares of Monster Beverage by 3.9% during the first quarter. Conning Inc. now owns 5,853 shares of the company’s stock valued at $343,000 after purchasing an additional 219 shares during the period. Finally, Eastern Bank increased its position in shares of Monster Beverage by 3.0% during the first quarter. Eastern Bank now owns 7,527 shares of the company’s stock valued at $440,000 after purchasing an additional 221 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $69.03 on Friday. The business’s fifty day moving average price is $64.10 and its two-hundred day moving average price is $61.87. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $69.28. The stock has a market capitalization of $67.40 billion, a price-to-earnings ratio of 42.88, a price-to-earnings-growth ratio of 2.39 and a beta of 0.54.

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. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations 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 posted $0.41 earnings per share. Research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Analyst Ratings Changes

MNST has been the topic of a number of research reports. Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the company an “overweight” rating in a research report on Friday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Monster Beverage in a research report on Wednesday. Morgan Stanley boosted their price objective on Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Royal Bank Of Canada set a $68.00 price target on Monster Beverage and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, UBS Group upped their price target on Monster Beverage from $67.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.71.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.30% of the company’s stock.

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.