Venturi Wealth Management LLC Acquires 1,102 Shares of Monster Beverage Corporation $MNST

Venturi Wealth Management LLC lifted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 13.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,239 shares of the company’s stock after purchasing an additional 1,102 shares during the period. Venturi Wealth Management LLC’s holdings in Monster Beverage were worth $579,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Monster Beverage by 23.1% during the first quarter. Farther Finance Advisors LLC now owns 7,400 shares of the company’s stock valued at $437,000 after acquiring an additional 1,390 shares during the period. GAMMA Investing LLC lifted its stake in shares of Monster Beverage by 2.2% during the first quarter. GAMMA Investing LLC now owns 21,433 shares of the company’s stock valued at $1,254,000 after acquiring an additional 460 shares during the period. Simplicity Wealth LLC lifted its stake in shares of Monster Beverage by 14.6% during the first quarter. Simplicity Wealth LLC now owns 4,481 shares of the company’s stock valued at $262,000 after acquiring an additional 570 shares during the period. Trueblood Wealth Management LLC acquired a new position in shares of Monster Beverage during the first quarter valued at $205,000. Finally, Integrated Advisors Network LLC acquired a new position in shares of Monster Beverage during the first quarter valued at $203,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $69.03 on Friday. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $69.28. The business has a 50-day moving average of $64.10 and a two-hundred day moving average of $61.87. The company has a market capitalization of $67.40 billion, a P/E ratio of 42.88, a price-to-earnings-growth ratio of 2.39 and a beta of 0.54.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on MNST. The Goldman Sachs Group upped their price target on Monster Beverage from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Citigroup reissued a “buy” rating and issued a $79.00 target price (up previously from $76.00) on shares of Monster Beverage in a research note on Thursday. Redburn Atlantic lowered Monster Beverage from a “strong-buy” rating to a “hold” rating and cut their target price for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. Wells Fargo & Company set a $73.00 target price on Monster Beverage and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, Stifel Nicolaus started coverage on Monster Beverage in a research note on Thursday, June 12th. They issued a “buy” rating and a $72.00 target price on the stock. Thirteen investment 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 a consensus target price of $65.71.

Insider Activity

In related news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.30% of the company’s stock.

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.