Belpointe Asset Management LLC Reduces Holdings in Monster Beverage Corporation $MNST

Belpointe Asset Management LLC trimmed its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 21.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,756 shares of the company’s stock after selling 1,035 shares during the quarter. Belpointe Asset Management LLC’s holdings in Monster Beverage were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MNST. Wayfinding Financial LLC bought a new position in Monster Beverage in the 1st quarter valued at $29,000. Park Square Financial Group LLC bought a new position in Monster Beverage in the 4th quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after acquiring an additional 196 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Monster Beverage in the 1st quarter valued at $43,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in Monster Beverage by 21.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company’s stock valued at $77,000 after acquiring an additional 230 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 0.5%

Shares of NASDAQ:MNST opened at $64.35 on Tuesday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $66.75. The stock has a market cap of $62.83 billion, a price-to-earnings ratio of 39.97, a PEG ratio of 2.25 and a beta of 0.54. The business has a 50-day moving average price of $61.72 and a 200-day moving average price of $60.63.

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

Wall Street Analyst Weigh In

MNST has been the topic of several research analyst reports. UBS Group upped their price objective on Monster Beverage from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Rothschild & Co Redburn downgraded Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research report on Wednesday, July 9th. Wall Street Zen downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Stifel Nicolaus began coverage on Monster Beverage in a research report on Thursday, June 12th. They set a “buy” rating and a $72.00 price target on the stock. Finally, Bank of America increased their price target on Monster Beverage from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.10.

Insiders Place Their Bets

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.80% of the company’s stock.

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.