Monster Beverage Corporation $MNST Shares Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC boosted its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 27.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,645 shares of the company’s stock after purchasing an additional 1,839 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Monster Beverage were worth $541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Moran Wealth Management LLC acquired a new position in Monster Beverage in the second quarter valued at approximately $11,598,000. Cornerstone Wealth Group LLC acquired a new position in Monster Beverage in the second quarter valued at approximately $240,000. NorthRock Partners LLC boosted its holdings in Monster Beverage by 113.0% in the second quarter. NorthRock Partners LLC now owns 13,412 shares of the company’s stock valued at $840,000 after purchasing an additional 7,115 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Monster Beverage by 20.0% in the second quarter. Sequoia Financial Advisors LLC now owns 60,992 shares of the company’s stock valued at $3,821,000 after purchasing an additional 10,151 shares in the last quarter. Finally, Vest Financial LLC boosted its holdings in Monster Beverage by 13.7% in the second quarter. Vest Financial LLC now owns 4,803 shares of the company’s stock valued at $301,000 after purchasing an additional 578 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Price Performance

Monster Beverage stock opened at $70.16 on Friday. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $70.51. The business has a 50 day simple moving average of $65.01 and a 200-day simple moving average of $62.24. The stock 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.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Redburn Atlantic downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating and decreased their price objective for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Morgan Stanley increased their price objective on Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada increased their price objective on Monster Beverage from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Thirteen 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. According to MarketBeat.com, Monster Beverage has a consensus rating of “Hold” and a consensus price target of $66.05.

Insider Transactions at Monster Beverage

In other Monster Beverage 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 value of $637,300.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed 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.