AlphaStar Capital Management LLC Sells 1,409 Shares of Monster Beverage Corporation $MNST

AlphaStar Capital Management LLC decreased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 5.4% in the second quarter, Holdings Channel.com reports. The firm owned 24,907 shares of the company’s stock after selling 1,409 shares during the period. AlphaStar Capital Management LLC’s holdings in Monster Beverage were worth $1,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ashton Thomas Securities LLC increased its stake in shares of Monster Beverage by 1.0% during the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock valued at $1,064,000 after purchasing an additional 174 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Monster Beverage by 4.0% during the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock valued at $286,000 after purchasing an additional 189 shares in the last quarter. Accretive Wealth Partners LLC grew its holdings in shares of Monster Beverage by 1.0% during the second quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock valued at $1,263,000 after buying an additional 190 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Monster Beverage by 2.9% during the second quarter. Rehmann Capital Advisory Group now owns 6,704 shares of the company’s stock valued at $420,000 after buying an additional 191 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Monster Beverage by 37.1% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after buying an additional 196 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and increased their price target for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Royal Bank Of Canada increased their price target on shares of Monster Beverage from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Bank of America increased their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Citigroup reiterated a “buy” rating and set a $79.00 price target (up previously from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Thirteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.10.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage 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 transaction, the director owned 51,191 shares in the company, 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 SEC, which is available through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Price Performance

MNST stock opened at $66.83 on Friday. The company has a market cap of $65.25 billion, a P/E ratio of 41.51, a price-to-earnings-growth ratio of 2.31 and a beta of 0.54. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.72. The stock’s fifty day moving average price is $66.05 and its 200-day moving average price is $63.12.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results 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. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. As a group, analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.