Rehmann Capital Advisory Group Purchases 191 Shares of Monster Beverage Corporation $MNST

Rehmann Capital Advisory Group lifted its position in Monster Beverage Corporation (NASDAQ:MNST) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,704 shares of the company’s stock after buying an additional 191 shares during the period. Rehmann Capital Advisory Group’s holdings in Monster Beverage were worth $420,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parcion Private Wealth LLC bought a new position in shares of Monster Beverage in the second quarter worth approximately $331,000. D.A. Davidson & CO. purchased a new position in shares of Monster Beverage during the second quarter valued at approximately $236,000. Jackson Thornton Wealth Management LLC purchased a new position in shares of Monster Beverage during the second quarter valued at approximately $232,000. Phoenix Financial Ltd. purchased a new position in shares of Monster Beverage during the second quarter valued at approximately $229,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Monster Beverage by 24.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 365,130 shares of the company’s stock valued at $22,623,000 after purchasing an additional 71,452 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.2%

MNST opened at $69.89 on Friday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $70.72. The company has a market capitalization of $68.24 billion, a PE ratio of 43.41, a PEG ratio of 2.42 and a beta of 0.54. The firm’s 50 day simple moving average is $65.57 and its two-hundred day simple moving average is $62.63.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm earned $0.41 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MNST shares. Rothschild & Co Redburn cut shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Wednesday, July 9th. Morgan Stanley boosted their price objective on shares of Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Redburn Atlantic cut shares of 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. Finally, Roth Capital reissued a “neutral” rating and set a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. 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 stock. Based on data from MarketBeat, Monster Beverage currently has an average rating of “Hold” and an average price target of $66.05.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction on 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 directly owned 51,191 shares of the company’s stock, valued at $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 is available at this hyperlink. 8.30% of the stock is currently owned by company insiders.

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.