Signal Advisors Wealth LLC decreased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 50.6% during the second quarter of the year, according to a recent filing with the Securities and Exchange Commission (SEC). The investment firm sold 4,014 shares, reducing its position to 3,920 shares. At the end of the quarter, Signal Advisors Wealth LLC’s remaining stake in the beverage company was valued at $245,000.
Other institutional investors have also adjusted their positions in Monster Beverage. Pinnacle Associates Ltd. increased its stake by 4.0% in the first quarter, bringing its total holdings to 4,887 shares valued at $286,000. Migdal Insurance & Financial Holdings Ltd. increased its position by 37.1% in the same period, now holding 724 shares valued at $42,000. Conning Inc. also grew its stake by 3.9%, with holdings now totaling 5,853 shares valued at $343,000. Eastern Bank increased its holdings by 3.0%, owning 7,527 shares valued at $440,000. Cary Street Partners Investment Advisory LLC increased its position by 21.2%, holding 1,314 shares valued at $77,000.
Company insiders have also been active in trading Monster Beverage stock. Director Mark Vidergauz sold 10,000 shares on August 13 at an average price of $63.73, resulting in a transaction totaling $637,300. Following the sale, Vidergauz holds 51,191 shares in the company, valued at approximately $3,262,402.43. This transaction, disclosed in an SEC filing, represents a 16.34% decrease in Vidergauz’s holdings. Currently, institutional investors and hedge funds own 72.36% of Monster Beverage’s stock, while company insiders hold 8.30%.
Recent analyst ratings for Monster Beverage (MNST) reflect a mixed sentiment. Wall Street Zen downgraded the stock from “buy” to “hold” on September 5. Redburn Atlantic also lowered its rating from “strong-buy” to “hold” and decreased its price target from $63.00 to $60.00 on July 9. Conversely, Wells Fargo & Company set a price target of $73.00 with an “overweight” rating on August 8. Roth Capital reiterated a “neutral” rating with a price target of $60.00 on August 13, while Citigroup increased its target price from $74.00 to $76.00 and gave the stock a “buy” rating on September 16.
Overall, twelve analysts have assigned a “buy” rating, eight have assigned a “hold” rating, and two have given a “sell” rating to Monster Beverage. According to MarketBeat data, the stock currently has an average rating of “hold” and an average target price of $65.19. On Friday, shares of NASDAQ:MNST opened at $64.13. The company’s 52-week range is $45.70 to $67.13. Monster Beverage Corporation has a market capitalization of $62.62 billion, a P/E ratio of 39.83, and a beta of 0.54.
Monster Beverage Corporation reported its latest quarterly earnings on August 7, announcing earnings per share (EPS) of $0.52, exceeding the consensus estimate of $0.48. The company’s net margin was 20.54%, and its return on equity was 27.46%. Revenue for the quarter reached $2.11 billion, surpassing analysts’ expectations of $2.08 billion. This represents an 11.1% increase in revenue compared to the same period last year. Analysts project that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year. The company develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally.
