Atria Wealth Solutions Inc. Sells 5,481 Shares of Monster Beverage Corporation $MNST

Atria Wealth Solutions Inc. decreased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 43.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,008 shares of the company’s stock after selling 5,481 shares during the period. Atria Wealth Solutions Inc.’s holdings in Monster Beverage were worth $439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MNST. Wayfinding Financial LLC bought a new position in shares of Monster Beverage in the first quarter worth about $29,000. Webster Bank N. A. purchased a new stake in shares of Monster Beverage in the second quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after buying an additional 196 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Monster Beverage in the first quarter worth about $43,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Monster Beverage in the second quarter worth about $55,000. Institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MNST shares. Citigroup reiterated a “buy” rating and issued a $79.00 target price (up from $76.00) on shares of Monster Beverage in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monster Beverage in a research report on Wednesday, October 8th. Bank of America boosted their target price on Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Rothschild & Co Redburn downgraded Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their target price on Monster Beverage from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $66.05.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the company’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 transaction of $637,300.00. Following the transaction, the director owned 51,191 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST stock opened at $70.22 on Monday. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.65. The stock’s 50 day simple moving average is $65.12 and its two-hundred day simple moving average is $62.36. The company has a market cap of $68.56 billion, a PE ratio of 43.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data 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 business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company’s quarterly 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. Equities research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage 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.