Vise Technologies Inc. lifted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 76.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,956 shares of the company’s stock after purchasing an additional 8,195 shares during the quarter. Vise Technologies Inc.’s holdings in Monster Beverage were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in MNST. Jones Financial Companies Lllp boosted its stake in shares of Monster Beverage by 397.9% during the 1st quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock worth $890,000 after acquiring an additional 12,148 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Monster Beverage by 247.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after acquiring an additional 9,251 shares during the period. Cresset Asset Management LLC boosted its stake in shares of Monster Beverage by 23.9% during the 2nd quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock worth $417,000 after acquiring an additional 1,281 shares during the period. Federated Hermes Inc. boosted its stake in shares of Monster Beverage by 55.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock worth $301,000 after acquiring an additional 1,721 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Monster Beverage by 151.7% during the 2nd quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock worth $2,134,000 after acquiring an additional 20,538 shares during the period. 72.36% of the stock is currently owned by institutional investors.
Insider Transactions at Monster Beverage
In other news, insider Emelie Tirre sold 88,700 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the completion of the transaction, the insider owned 81,763 shares of the company’s stock, valued at approximately $7,028,347.48. The trade was a 52.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 54,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the transaction, the director directly owned 299,246 shares of the company’s stock, valued at $25,678,299.26. This trade represents a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 159,700 shares of company stock valued at $13,730,462. Corporate insiders own 8.10% of the company’s stock.
Monster Beverage Price Performance
Monster Beverage (NASDAQ:MNST – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, equities analysts expect that Monster Beverage Corporation will post 2.31 EPS for the current year.
Monster Beverage declared that its Board of Directors has initiated a share repurchase program on Friday, May 15th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 0.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Analysts Set New Price Targets
MNST has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Monster Beverage from $81.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Argus boosted their price target on Monster Beverage from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Jefferies Financial Group set a $100.00 price target on Monster Beverage in a research note on Wednesday, March 11th. Rothschild & Co Redburn upgraded Monster Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the company from $76.00 to $90.00 in a research note on Wednesday, May 6th. Finally, UBS Group restated a “neutral” rating and issued a $84.00 price target (up from $80.00) on shares of Monster Beverage in a research note on Friday, May 8th. Fourteen 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 currently has an average rating of “Moderate Buy” and a consensus price target of $89.05.
Check Out Our Latest Research Report on Monster Beverage
Monster Beverage Company Profile
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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