Perigon Wealth Management LLC Buys 827 Shares of Monster Beverage Corporation $MNST

Perigon Wealth Management LLC increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 5.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 17,112 shares of the company’s stock after purchasing an additional 827 shares during the quarter. Perigon Wealth Management LLC’s holdings in Monster Beverage were worth $1,072,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Monster Beverage by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after acquiring an additional 1,151,175 shares during the last quarter. Invesco Ltd. grew its position in shares of Monster Beverage by 6.6% in the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after buying an additional 563,353 shares during the last quarter. Nuveen LLC bought a new stake in shares of Monster Beverage in the 1st quarter worth approximately $497,157,000. Northern Trust Corp grew its position in shares of Monster Beverage by 1.0% in the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock worth $434,901,000 after buying an additional 73,737 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Monster Beverage by 34.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,278,206 shares of the company’s stock worth $425,921,000 after buying an additional 1,872,075 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.30% of the company’s stock.

Monster Beverage Stock Up 1.2%

MNST opened at $65.34 on Friday. The stock has a market cap of $63.80 billion, a PE ratio of 40.58, a PEG ratio of 2.27 and a beta of 0.54. The business has a 50 day moving average of $62.72 and a 200-day moving average of $61.21. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $67.13.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MNST shares. Stifel Nicolaus started coverage on Monster Beverage in a research report on Thursday, June 12th. They issued a “buy” rating and a $72.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. JPMorgan Chase & Co. lifted their price objective on Monster Beverage from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. UBS Group lifted their price objective on Monster Beverage from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Finally, Bank of America lifted their price objective on Monster Beverage from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $65.19.

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.