Financial Advocates Investment Management Sells 5,697 Shares of Monster Beverage Corporation $MNST

Financial Advocates Investment Management reduced its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 34.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,954 shares of the company’s stock after selling 5,697 shares during the quarter. Financial Advocates Investment Management’s holdings in Monster Beverage were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC increased its holdings in Monster Beverage by 1.0% in the 2nd quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock valued at $1,064,000 after acquiring an additional 174 shares during the last quarter. Accretive Wealth Partners LLC increased its holdings in shares of Monster Beverage by 1.0% in the second quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock worth $1,263,000 after purchasing an additional 190 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Monster Beverage by 2.9% in the second quarter. Rehmann Capital Advisory Group now owns 6,704 shares of the company’s stock worth $420,000 after buying an additional 191 shares in the last quarter. Blue Trust Inc. boosted its stake in Monster Beverage by 6.7% during the second quarter. Blue Trust Inc. now owns 3,293 shares of the company’s stock valued at $206,000 after buying an additional 207 shares during the last quarter. Finally, Eastern Bank grew its holdings in Monster Beverage by 3.0% during the 1st quarter. Eastern Bank now owns 7,527 shares of the company’s stock valued at $440,000 after buying an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 price objective on shares of Monster Beverage in a report on Tuesday, November 4th. Zacks Research upgraded shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Piper Sandler lifted their price objective on shares of Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings restated a “buy (b)” rating on shares of Monster Beverage in a research report on Monday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price target (up previously from $74.00) on shares of Monster Beverage in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and an average price target of $69.62.

Insider Transactions at Monster Beverage

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the transaction, the insider owned 21,993 shares of the company’s stock, valued at $1,568,760.69. This represents a 63.61% 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 currently owned by insiders.

Monster Beverage Trading Up 0.3%

Shares of NASDAQ:MNST opened at $75.04 on Thursday. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $75.27. The company has a market capitalization of $73.32 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 2.31 and a beta of 0.53. The firm’s 50-day moving average is $68.79 and its 200 day moving average is $64.61.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 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 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. As a group, equities analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal 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.