440 Shares in Monster Beverage Corporation $MNST Purchased by Salomon & Ludwin LLC

Salomon & Ludwin LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the second quarter, Holdings Channel.com reports. The firm purchased 440 shares of the company’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Twin Capital Management Inc. raised its stake in shares of Monster Beverage by 11.6% during the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock worth $305,000 after purchasing an additional 540 shares in the last quarter. OMNI 360 Wealth Inc. purchased a new stake in shares of Monster Beverage during the 2nd quarter worth about $365,000. Nisa Investment Advisors LLC raised its stake in shares of Monster Beverage by 2.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company’s stock worth $18,475,000 after purchasing an additional 7,465 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Monster Beverage by 76.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company’s stock worth $3,915,000 after purchasing an additional 28,932 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of 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 purchasing an additional 11,443 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MNST shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a research note on Wednesday, October 8th. Bank of America increased their price objective on Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Redburn Atlantic lowered Monster Beverage from a “strong-buy” rating to a “hold” rating and lowered their price objective for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. 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. Finally, Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the company an “overweight” rating in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.05.

Monster Beverage Stock Up 0.1%

MNST opened at $70.22 on Monday. The firm has a market capitalization of $68.56 billion, a P/E ratio of 43.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.54. The stock’s 50 day moving average price is $65.12 and its two-hundred day moving average price is $62.36. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $70.65.

Monster Beverage (NASDAQ:MNST) last released its 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 firm had revenue of $2.11 billion for 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 company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. As a group, analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm’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 sale, the director owned 51,191 shares of the company’s stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.80% of the stock is owned by company insiders.

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.