Praxis Investment Management Inc. Makes New Investment in Monster Beverage Corporation $MNST

Praxis Investment Management Inc. acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,740 shares of the company’s stock, valued at approximately $234,000.

A number of other large investors also recently added to or reduced their stakes in MNST. GAMMA Investing LLC raised its position in Monster Beverage by 2.2% during the first quarter. GAMMA Investing LLC now owns 21,433 shares of the company’s stock worth $1,254,000 after acquiring an additional 460 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Monster Beverage by 28.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company’s stock worth $2,136,000 after acquiring an additional 8,155 shares during the period. Blue Trust Inc. grew its holdings in shares of Monster Beverage by 8.4% during the first quarter. Blue Trust Inc. now owns 3,086 shares of the company’s stock worth $181,000 after buying an additional 239 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Monster Beverage during the first quarter worth $460,000. Finally, Heartland Bank & Trust Co grew its holdings in shares of Monster Beverage by 18.7% during the first quarter. Heartland Bank & Trust Co now owns 10,296 shares of the company’s stock worth $603,000 after buying an additional 1,625 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Trading Up 0.1%

Shares of MNST opened at $70.22 on Monday. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $70.65. The firm has a 50-day moving average price of $65.12 and a 200 day moving average price of $62.36. The firm has a market capitalization of $68.56 billion, a P/E ratio of 43.61, a P/E/G ratio of 2.44 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last announced 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. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Monster Beverage’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. UBS Group upped their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Roth Capital reaffirmed a “neutral” rating and set a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Wells Fargo & Company set a $73.00 target price on shares of Monster Beverage and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $66.05.

Insider Activity

In related news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 7.80% of the company’s stock.

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.