Empower Advisory Group LLC Boosts Holdings in Monster Beverage Corporation $MNST

Empower Advisory Group LLC lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,380,946 shares of the company’s stock after purchasing an additional 40,856 shares during the period. Empower Advisory Group LLC owned about 0.14% of Monster Beverage worth $86,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MNST. CWM LLC increased its stake in Monster Beverage by 1.4% during the 1st quarter. CWM LLC now owns 17,793 shares of the company’s stock worth $1,041,000 after buying an additional 254 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Monster Beverage by 6.3% in the first quarter. Apollon Wealth Management LLC now owns 15,414 shares of the company’s stock worth $902,000 after acquiring an additional 918 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Monster Beverage by 25.4% in the first quarter. Wealthfront Advisers LLC now owns 78,739 shares of the company’s stock worth $4,608,000 after acquiring an additional 15,964 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Monster Beverage by 511.3% during the first quarter. Larson Financial Group LLC now owns 1,675 shares of the company’s stock worth $98,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Forum Financial Management LP raised its stake in Monster Beverage by 9.1% in the 1st quarter. Forum Financial Management LP now owns 8,880 shares of the company’s stock valued at $520,000 after purchasing an additional 737 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

NASDAQ:MNST opened at $71.31 on Friday. The firm has a market capitalization of $69.63 billion, a price-to-earnings ratio of 44.29, a PEG ratio of 2.31 and a beta of 0.53. The company’s 50-day moving average is $67.39 and its two-hundred day moving average is $63.86. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $72.62.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. As a group, equities analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

MNST has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price (up previously from $74.00) on shares of Monster Beverage in a research note on Friday, November 7th. JPMorgan Chase & Co. boosted their price target on shares of Monster Beverage from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, November 7th. The Goldman Sachs Group raised their target price on shares of Monster Beverage from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.62.

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.