Monster Beverage Corporation $MNST Position Reduced by Lmcg Investments LLC

Lmcg Investments LLC trimmed its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 0.6% during the second quarter, HoldingsChannel reports. The fund owned 27,318 shares of the company’s stock after selling 169 shares during the quarter. Lmcg Investments LLC’s holdings in Monster Beverage were worth $1,711,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Monster Beverage in the 1st quarter worth about $29,000. Webster Bank N. A. bought a new position in shares of Monster Beverage in the 2nd quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of 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 buying an additional 196 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Monster Beverage in the 1st quarter worth about $43,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Monster Beverage in the 2nd quarter worth about $55,000. 72.36% of the stock is currently owned by institutional investors.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Bank of America raised their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada increased their price objective on shares of Monster Beverage from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. increased their price objective 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. Finally, Citigroup reaffirmed a “buy” rating and issued a $79.00 price objective (up previously from $76.00) on shares of Monster Beverage in a report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $66.05.

Monster Beverage Trading Up 0.9%

Monster Beverage stock opened at $69.62 on Friday. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $70.06. The stock has a market cap of $67.98 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 2.42 and a beta of 0.54. The company’s 50-day moving average price is $64.31 and its two-hundred day moving average price is $61.98.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping 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 company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm earned $0.41 EPS. Monster Beverage’s revenue was up 11.1% on a year-over-year basis. Research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share 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.