Platt Wealth Management LLC purchased a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 96,834 shares of the company’s stock, valued at approximately $7,424,000. Monster Beverage comprises approximately 7.4% of Platt Wealth Management LLC’s holdings, making the stock its 3rd biggest position.
Other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC grew its holdings in shares of Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after buying an additional 205 shares during the last quarter. Physician Wealth Advisors Inc. grew its holdings in shares of Monster Beverage by 508.1% during the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after buying an additional 315 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after buying an additional 415 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of Monster Beverage during the third quarter valued at approximately $36,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Monster Beverage during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on MNST shares. Royal Bank Of Canada increased their price target on shares of Monster Beverage from $86.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Stifel Nicolaus dropped their target price on shares of Monster Beverage from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Rothschild & Co Redburn upgraded shares of Monster Beverage from a “neutral” rating to a “buy” rating and raised their target price for the stock from $76.00 to $90.00 in a report on Wednesday, May 6th. Citigroup raised their target price on shares of Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and an average price target of $88.89.
Insider Transactions at Monster Beverage
In other news, insider Emelie Tirre sold 88,700 shares of Monster Beverage stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the transaction, the insider owned 81,763 shares in the company, valued at $7,028,347.48. This trade represents a 52.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Kelly sold 7,000 shares of Monster Beverage stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total transaction of $614,670.00. Following the transaction, the chief financial officer owned 62,553 shares in the company, valued at $5,492,778.93. This represents a 10.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 159,700 shares of company stock worth $13,730,462 in the last 90 days. 8.10% of the stock is currently owned by insiders.
Monster Beverage Trading Up 0.5%
Shares of MNST stock opened at $86.79 on Friday. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $88.77. The firm’s 50 day moving average is $77.60 and its 200 day moving average is $77.26. The stock has a market capitalization of $84.88 billion, a P/E ratio of 41.93, a P/E/G ratio of 2.84 and a beta of 0.50.
Monster Beverage (NASDAQ:MNST – Get Free Report) last issued its earnings results on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company posted $0.47 earnings per share. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities analysts predict that Monster Beverage Corporation will post 2.31 earnings per share for the current year.
Monster Beverage declared that its Board of Directors has authorized a stock buyback program on Friday, May 15th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 0.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
About Monster Beverage
Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.
Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.
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