Sigma Planning Corp Acquires 5,313 Shares of Monster Beverage Corporation $MNST

Sigma Planning Corp increased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 100.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,578 shares of the company’s stock after purchasing an additional 5,313 shares during the period. Sigma Planning Corp’s holdings in Monster Beverage were worth $663,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. State of Michigan Retirement System boosted its position in Monster Beverage by 0.6% during the second quarter. State of Michigan Retirement System now owns 199,116 shares of the company’s stock valued at $12,473,000 after buying an additional 1,100 shares during the period. iA Global Asset Management Inc. lifted its stake in shares of Monster Beverage by 26.0% in the 2nd quarter. iA Global Asset Management Inc. now owns 157,381 shares of the company’s stock valued at $9,858,000 after acquiring an additional 32,513 shares during the last quarter. TIAA Trust National Association purchased a new stake in Monster Beverage during the 2nd quarter valued at about $258,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Monster Beverage during the 2nd quarter worth approximately $486,000. Finally, Creekmur Asset Management LLC grew its position in Monster Beverage by 29.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 5,698 shares of the company’s stock worth $357,000 after acquiring an additional 1,280 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group reiterated a “buy” rating and set a $79.00 price target on shares of Monster Beverage in a report on Tuesday. Piper Sandler increased their price target on shares of Monster Beverage from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus boosted their price objective on shares of Monster Beverage from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company upped their price objective on shares of Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.41.

Monster Beverage Trading Up 5.2%

Shares of NASDAQ MNST opened at $69.73 on Friday. The firm has a fifty day simple moving average of $66.59 and a two-hundred day simple moving average of $63.44. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $72.62. The firm has a market capitalization of $68.09 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the company earned $0.41 earnings per share. Monster Beverage’s quarterly revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Monster Beverage Company 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.