ProShare Advisors LLC Buys 73,832 Shares of Monster Beverage Corporation $MNST

ProShare Advisors LLC increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,448,258 shares of the company’s stock after purchasing an additional 73,832 shares during the quarter. ProShare Advisors LLC owned about 0.15% of Monster Beverage worth $90,719,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Access Investment Management LLC bought a new position in Monster Beverage in the 2nd quarter valued at $25,000. Salomon & Ludwin LLC acquired a new position in shares of Monster Beverage during the second quarter valued at $28,000. Golden State Wealth Management LLC boosted its holdings in Monster Beverage by 647.3% in the second quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock valued at $35,000 after acquiring an additional 479 shares during the last quarter. Webster Bank N. A. bought a new position in Monster Beverage in the second quarter valued at about $38,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after purchasing an additional 196 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $70.03 on Tuesday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $72.62. The company has a market cap of $68.38 billion, a P/E ratio of 43.50, a P/E/G ratio of 2.31 and a beta of 0.53. The stock’s 50-day simple moving average is $66.74 and its 200 day simple moving average is $63.58.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MNST shares. Wall Street Zen upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup reissued a “buy” rating and set a $79.00 price target (up from $76.00) on shares of Monster Beverage in a research note on Thursday, October 9th. Roth Capital reaffirmed a “neutral” rating and issued a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Bank of America lifted their target price on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday. Finally, The Goldman Sachs Group increased their price target on Monster Beverage from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Friday. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and an average target price of $69.41.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 8.30% of the company’s stock.

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.