Choreo LLC Increases Holdings in Monster Beverage Corporation $MNST

Choreo LLC boosted its position in Monster Beverage Corporation (NASDAQ:MNST) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,323 shares of the company’s stock after buying an additional 1,761 shares during the period. Choreo LLC’s holdings in Monster Beverage were worth $1,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MNST. Access Investment Management LLC acquired a new stake in Monster Beverage during the 2nd quarter valued at approximately $25,000. Salomon & Ludwin LLC acquired a new position in 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 purchasing an additional 479 shares during the last quarter. Webster Bank N. A. acquired a new stake in Monster Beverage during the 2nd quarter worth about $38,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Monster Beverage during the 1st quarter worth about $43,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In related news, insider Guy Carling sold 38,438 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $71.33, for a total value of $2,741,782.54. Following the transaction, the insider directly owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. This trade represents a 63.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.30% of the stock is currently owned by company insiders.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $75.03 on Friday. The business’s 50 day moving average price is $69.21 and its 200-day moving average price is $64.80. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $75.27. The firm has a market capitalization of $73.30 billion, a price-to-earnings ratio of 46.60, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company upped their target price on Monster Beverage from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group restated a “buy” rating and issued a $79.00 price objective on shares of Monster Beverage in a research report on Tuesday, November 4th. Stifel Nicolaus raised their price objective on shares of Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Monster Beverage in a research note on Monday, November 24th. Finally, Morgan Stanley restated an “overweight” rating and set 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 issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.