Orion Porfolio Solutions LLC Purchases 10,477 Shares of Monster Beverage Corporation $MNST

Orion Porfolio Solutions LLC raised its position in Monster Beverage Corporation (NASDAQ:MNST) by 24.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,333 shares of the company’s stock after purchasing an additional 10,477 shares during the period. Orion Porfolio Solutions LLC’s holdings in Monster Beverage were worth $3,341,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MNST. Access Investment Management LLC acquired a new stake in Monster Beverage during the 2nd quarter worth $25,000. Salomon & Ludwin LLC bought a new stake in shares of Monster Beverage in the second quarter worth about $28,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Monster Beverage by 1,338.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Monster Beverage by 647.3% during the 2nd 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 in the last quarter. Finally, Webster Bank N. A. acquired a new position in shares of Monster Beverage in the 2nd quarter valued at approximately $38,000. 72.36% of the stock is owned by institutional investors.

Insider Activity

In other Monster Beverage news, Director Rodney C. Sacks sold 206,543 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.58, for a total transaction of $15,197,433.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Emelie Tirre sold 30,000 shares of Monster Beverage stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the completion of the transaction, the insider directly owned 63,939 shares of the company’s stock, valued at approximately $4,687,368.09. This trade represents a 31.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 274,981 shares of company stock valued at $20,138,516. 8.30% of the stock is owned by insiders.

Analysts Set New Price Targets

MNST has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Monster Beverage from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Piper Sandler set a $85.00 price objective on shares of Monster Beverage in a report on Wednesday, December 3rd. Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus set a $82.00 target price on Monster Beverage and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price objective (up from $74.00) on shares of Monster Beverage in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Monster Beverage Price Performance

Monster Beverage stock opened at $74.33 on Thursday. The company has a market cap of $72.62 billion, a price-to-earnings ratio of 42.23, a P/E/G ratio of 2.26 and a beta of 0.48. The firm has a 50-day moving average of $71.22 and a 200-day moving average of $65.81. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $76.28.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. Monster Beverage’s revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current 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.