Hohimer Wealth Management LLC Takes $984,000 Position in Monster Beverage Co. (NASDAQ:MNST)

Hohimer Wealth Management LLC purchased a new stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,706 shares of the company's stock, valued at approximately $984,000.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Monster Beverage during the first quarter worth about $26,000. Stephens Consulting LLC bought a new stake in Monster Beverage during the second quarter worth about $26,000. ICA Group Wealth Management LLC bought a new stake in Monster Beverage during the fourth quarter worth about $27,000. Tortoise Investment Management LLC raised its holdings in Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company's stock worth $29,000 after acquiring an additional 396 shares in the last quarter. Finally, Kings Path Partners LLC bought a new stake in Monster Beverage during the second quarter worth about $30,000. 72.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MNST. BNP Paribas began coverage on Monster Beverage in a report on Monday, June 24th. They set an "underperform" rating and a $48.00 target price on the stock. Truist Financial dropped their target price on Monster Beverage from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Friday, August 9th. UBS Group dropped their price objective on Monster Beverage from $55.00 to $51.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Bank of America dropped their price objective on Monster Beverage from $62.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company dropped their price objective on Monster Beverage from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Monster Beverage has a consensus rating of "Moderate Buy" and an average price target of $55.85.

Insider Buying and Selling

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the sale, the chief executive officer now owns 1,875,558 shares of the company's stock, valued at $99,404,574. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the firm's stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the sale, the director now owns 68,167 shares of the company's stock, valued at approximately $3,534,458.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the firm's stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at approximately $99,404,574. The disclosure for this sale can be found here. Insiders have sold 307,221 shares of company stock valued at $16,070,374 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Price Performance

NASDAQ:MNST traded down $0.16 during trading hours on Thursday, reaching $48.22. 3,838,490 shares of the company were exchanged, compared to its average volume of 7,237,503. The company has a market capitalization of $50.23 billion, a P/E ratio of 30.33, a P/E/G ratio of 2.18 and a beta of 0.76. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The business has a 50 day moving average of $48.93 and a 200 day moving average of $52.70.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. Research analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current year.

About Monster Beverage

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.