Elevate Capital Advisors LLC Sells 6,919 Shares of Monster Beverage Corporation $MNST

Elevate Capital Advisors LLC lessened its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 21.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,930 shares of the company’s stock after selling 6,919 shares during the quarter. Elevate Capital Advisors LLC’s holdings in Monster Beverage were worth $1,624,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MNST. Wealth Enhancement Advisory Services LLC boosted its position in shares of Monster Beverage by 11.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,346 shares of the company’s stock valued at $1,490,000 after acquiring an additional 3,004 shares during the period. Merit Financial Group LLC lifted its position in Monster Beverage by 81.8% during the first quarter. Merit Financial Group LLC now owns 12,094 shares of the company’s stock worth $708,000 after purchasing an additional 5,441 shares during the period. Vest Financial LLC bought a new stake in Monster Beverage during the first quarter worth about $247,000. Procyon Advisors LLC lifted its position in Monster Beverage by 10.9% during the first quarter. Procyon Advisors LLC now owns 115,944 shares of the company’s stock worth $6,785,000 after purchasing an additional 11,396 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in Monster Beverage during the first quarter worth about $219,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Down 0.6%

MNST stock opened at $67.17 on Friday. The stock has a market capitalization of $65.59 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $67.89. The firm has a 50-day moving average price of $63.47 and a 200-day moving average price of $61.57.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, equities analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred 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 sale, the director directly owned 51,191 shares in the company, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MNST has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Monster Beverage from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Rothschild & Co Redburn cut shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Wednesday, July 9th. Royal Bank Of Canada set a $68.00 price objective on shares of Monster Beverage and gave the stock an “outperform” rating in a research report on Friday, August 8th. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $65.19.

Monster Beverage Company 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.