Harel Insurance Investments & Financial Services Ltd. Takes Position in Monster Beverage Corporation $MNST

Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,755 shares of the company’s stock, valued at approximately $486,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ashton Thomas Securities LLC grew its stake in shares of Monster Beverage by 1.0% in the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock worth $1,064,000 after purchasing an additional 174 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Monster Beverage by 4.0% in the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock worth $286,000 after purchasing an additional 189 shares during the last quarter. Accretive Wealth Partners LLC grew its stake in shares of Monster Beverage by 1.0% in the second quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock worth $1,263,000 after purchasing an additional 190 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Monster Beverage by 2.9% in the second quarter. Rehmann Capital Advisory Group now owns 6,704 shares of the company’s stock worth $420,000 after purchasing an additional 191 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of 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 during the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction dated 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 directly 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Monster Beverage from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. upped their price target on shares of Monster Beverage from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Redburn Atlantic cut shares of Monster Beverage from a “strong-buy” rating to a “hold” rating and cut their price target for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Thirteen 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.10.

Monster Beverage Stock Performance

Shares of MNST stock opened at $66.83 on Monday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $70.72. The company has a 50-day simple moving average of $66.05 and a two-hundred day simple moving average of $63.19. The company has a market capitalization of $65.25 billion, a price-to-earnings ratio of 41.51, a PEG ratio of 2.31 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share (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 business 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 firm posted $0.41 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast 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.