Farther Finance Advisors LLC Sells 1,116 Shares of Monster Beverage Corporation $MNST

Farther Finance Advisors LLC lowered its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 15.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,284 shares of the company’s stock after selling 1,116 shares during the quarter. Farther Finance Advisors LLC’s holdings in Monster Beverage were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wayfinding Financial LLC bought a new position in shares of Monster Beverage in the 1st quarter worth approximately $29,000. Webster Bank N. A. purchased a new stake in Monster Beverage in the second quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings 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 in the last quarter. Banque Cantonale Vaudoise bought a new position in Monster Beverage in the first quarter worth $43,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Monster Beverage by 21.2% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company’s stock valued at $77,000 after buying an additional 230 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of MNST stock opened at $65.34 on Monday. The company has a market cap of $63.80 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.27 and a beta of 0.54. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $67.13. The firm has a fifty day moving average price of $62.72 and a 200-day moving average price of $61.25.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and raised their target price for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Stifel Nicolaus initiated coverage on Monster Beverage in a research report on Thursday, June 12th. They set a “buy” rating and a $72.00 price objective for the company. Redburn Atlantic cut Monster Beverage from a “strong-buy” rating to a “hold” rating and lowered their price objective for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. The Goldman Sachs Group increased their target price on Monster Beverage from $67.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Finally, JPMorgan Chase & Co. raised their price target on Monster Beverage from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Monster Beverage has an average rating of “Hold” and a consensus target price of $65.19.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the 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 completion of the sale, the director directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.80% of the stock is owned by insiders.

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.