5,283 Shares in Monster Beverage Corporation $MNST Acquired by Parcion Private Wealth LLC

Parcion Private Wealth LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the 2nd quarter, Holdings Channel reports. The firm purchased 5,283 shares of the company’s stock, valued at approximately $331,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of Monster Beverage by 2.2% in the 1st 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. Wealth Enhancement Advisory Services LLC raised its stake in shares of Monster Beverage by 28.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company’s stock valued at $2,136,000 after acquiring an additional 8,155 shares during the period. Blue Trust Inc. raised its stake in shares of Monster Beverage by 8.4% in the 1st quarter. Blue Trust Inc. now owns 3,086 shares of the company’s stock valued at $181,000 after acquiring an additional 239 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Monster Beverage by 76.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company’s stock valued at $3,915,000 after acquiring an additional 28,932 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Monster Beverage by 16.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 75,010 shares of the company’s stock valued at $4,390,000 after acquiring an additional 10,640 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of research reports. Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and raised their target price for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Morgan Stanley raised their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. 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, October 9th. UBS Group raised their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Finally, Roth Capital reaffirmed a “neutral” rating and set a $60.00 price target (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. 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. Based on data from MarketBeat, Monster Beverage currently has an average rating of “Hold” and an average price target of $66.05.

Monster Beverage Trading Up 1.2%

MNST opened at $69.72 on Thursday. The company has a fifty day simple moving average of $65.45 and a 200 day simple moving average of $62.54. The firm has a market cap of $68.08 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 2.40 and a beta of 0.54. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $70.72.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The company 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%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. On average, analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

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 shares were 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 of the company’s stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Monster Beverage Profile

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.