Summit Investment Advisors Inc. Boosts Stake in Monster Beverage Corporation $MNST

Summit Investment Advisors Inc. lifted its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,886 shares of the company’s stock after purchasing an additional 872 shares during the period. Summit Investment Advisors Inc.’s holdings in Monster Beverage were worth $2,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Ashton Thomas Securities LLC grew its holdings in Monster Beverage by 1.0% in the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock valued at $1,064,000 after purchasing an additional 174 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of Monster Beverage by 4.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock valued at $286,000 after buying an additional 189 shares in the last quarter. Accretive Wealth Partners LLC grew its stake in Monster Beverage by 1.0% in the 2nd quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock valued at $1,263,000 after acquiring an additional 190 shares during the period. Rehmann Capital Advisory Group increased its holdings in Monster Beverage by 2.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 6,704 shares of the company’s stock worth $420,000 after acquiring an additional 191 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after acquiring an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

MNST has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Piper Sandler boosted their price objective on Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus lifted their price target on Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, Wells Fargo & Company raised their price objective on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.41.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $69.73 on Monday. The business’s 50 day moving average price is $66.59 and its 200 day moving average price is $63.50. The company has a market cap of $68.09 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $72.62.

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

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.