Perigon Wealth Management LLC Takes Position in Monster Beverage Corp (NASDAQ:MNST)

Perigon Wealth Management LLC purchased a new stake in shares of Monster Beverage Corp (NASDAQ:MNST) in the second quarter, Holdings Channel.com reports. The firm purchased 4,643 shares of the company’s stock, valued at approximately $322,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its position in shares of Monster Beverage by 12.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,308 shares of the company’s stock valued at $91,000 after purchasing an additional 142 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Monster Beverage by 8.6% during the 2nd quarter. Global Retirement Partners LLC now owns 2,337 shares of the company’s stock valued at $162,000 after purchasing an additional 186 shares in the last quarter. Clarius Group LLC grew its position in shares of Monster Beverage by 5.1% during the 2nd quarter. Clarius Group LLC now owns 4,525 shares of the company’s stock valued at $314,000 after purchasing an additional 219 shares in the last quarter. Delta Financial Advisors LLC grew its position in shares of Monster Beverage by 2.9% during the 1st quarter. Delta Financial Advisors LLC now owns 8,961 shares of the company’s stock valued at $504,000 after purchasing an additional 255 shares in the last quarter. Finally, First Allied Advisory Services Inc. grew its position in Monster Beverage by 3.6% in the first quarter. First Allied Advisory Services Inc. now owns 8,017 shares of the company’s stock worth $451,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 64.05% of the company’s stock.

In related news, insider Emelie Tirre sold 84,465 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $66.41, for a total transaction of $5,609,320.65. Following the transaction, the insider now owns 96,903 shares in the company, valued at $6,435,328.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sydney Selati sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $66.07, for a total transaction of $330,350.00. Following the transaction, the director now owns 40,445 shares in the company, valued at approximately $2,672,201.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 196,108 shares of company stock valued at $13,486,804. Insiders own 10.60% of the company’s stock.

Shares of NASDAQ:MNST opened at $78.48 on Friday. The company has a market cap of $41.32 billion, a price-to-earnings ratio of 37.91, a price-to-earnings-growth ratio of 4.37 and a beta of 1.05. The company has a 50-day moving average price of $71.28 and a 200-day moving average price of $66.14. Monster Beverage Corp has a 12 month low of $50.06 and a 12 month high of $78.48.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $995.97 million. Monster Beverage had a net margin of 26.07% and a return on equity of 27.77%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, equities research analysts expect that Monster Beverage Corp will post 2.09 earnings per share for the current fiscal year.

Several research analysts recently issued reports on MNST shares. Morgan Stanley upped their target price on shares of Monster Beverage from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 13th. Goldman Sachs Group reiterated a “buy” rating and issued a $78.00 target price (up from $70.00) on shares of Monster Beverage in a research report on Monday, June 1st. Citigroup lowered shares of Monster Beverage from a “buy” rating to a “neutral” rating and cut their target price for the stock from $77.00 to $73.00 in a research report on Monday, May 11th. BidaskClub upgraded shares of Monster Beverage from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Zacks Investment Research upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, April 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Monster Beverage currently has an average rating of “Buy” and a consensus target price of $70.24.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

Further Reading: Equity Income

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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