Checchi Capital Advisers LLC Boosts Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Checchi Capital Advisers LLC boosted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,245 shares of the company’s stock after acquiring an additional 269 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Monster Beverage were worth $462,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Atomi Financial Group Inc. raised its position in shares of Monster Beverage by 8.3% in the 2nd quarter. Atomi Financial Group Inc. now owns 9,003 shares of the company’s stock worth $450,000 after acquiring an additional 689 shares in the last quarter. Crew Capital Management Ltd. raised its position in shares of Monster Beverage by 12.6% in the 2nd quarter. Crew Capital Management Ltd. now owns 15,952 shares of the company’s stock worth $797,000 after acquiring an additional 1,791 shares in the last quarter. AlphaStar Capital Management LLC raised its position in shares of Monster Beverage by 23.6% in the 2nd quarter. AlphaStar Capital Management LLC now owns 18,401 shares of the company’s stock worth $919,000 after acquiring an additional 3,515 shares in the last quarter. Sather Financial Group Inc raised its position in shares of Monster Beverage by 20.0% in the 2nd quarter. Sather Financial Group Inc now owns 1,009,363 shares of the company’s stock worth $50,418,000 after acquiring an additional 168,011 shares in the last quarter. Finally, &PARTNERS raised its position in shares of Monster Beverage by 25.3% in the 2nd quarter. &PARTNERS now owns 10,160 shares of the company’s stock worth $508,000 after acquiring an additional 2,052 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MNST shares. Citigroup reduced their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Piper Sandler dropped their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Roth Mkm dropped their target price on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. BMO Capital Markets dropped their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, TD Cowen dropped their target price on Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.85.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark J. Hall sold 250,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $52.22, for a total value of $13,055,000.00. Following the completion of the sale, the director now owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the sale, the director now directly owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 307,221 shares of company stock valued at $16,070,374. 7.80% of the stock is owned by company insiders.

Monster Beverage Stock Down 1.1 %

Shares of MNST opened at $47.05 on Thursday. The company has a market capitalization of $49.01 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.09 and a beta of 0.76. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The stock’s 50-day moving average price is $49.20 and its 200-day moving average price is $53.07.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. As a group, equities analysts anticipate that Monster Beverage Co. will post 1.75 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.