Empirical Asset Management LLC Buys 3,672 Shares of Monster Beverage Corporation $MNST

Empirical Asset Management LLC increased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 34.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,306 shares of the company’s stock after purchasing an additional 3,672 shares during the period. Empirical Asset Management LLC’s holdings in Monster Beverage were worth $896,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MNST. Wayfinding Financial LLC acquired a new position in Monster Beverage in the first quarter worth about $29,000. Webster Bank N. A. acquired a new position in Monster Beverage in the second quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. raised its position in Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after purchasing an additional 196 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in Monster Beverage in the first quarter worth about $43,000. Finally, Ameritas Advisory Services LLC acquired a new position in Monster Beverage in the second quarter worth about $55,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MNST has been the subject of several recent research reports. UBS Group increased their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Redburn Atlantic cut shares of 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. Bank of America lifted their target price on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Rothschild & Co Redburn cut shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research note on Wednesday, July 9th. Finally, Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of “Hold” and a consensus price target of $66.05.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $70.16 on Friday. The firm has a market cap of $68.51 billion, a P/E ratio of 43.58, a P/E/G ratio of 2.39 and a beta of 0.54. The firm has a 50 day simple moving average of $65.01 and a 200 day simple moving average of $62.24. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.51.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. Monster Beverage’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current 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.