Integrity Wealth Partners LLC acquired a new position in Monster Beverage Corporation (NASDAQ:MNST – Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,600 shares of the company’s stock, valued at approximately $478,000.
Several other large investors have also made changes to their positions in MNST. Harbor Investment Advisory LLC grew its holdings in Monster Beverage by 136.7% in the 4th 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. Newbridge Financial Services Group Inc. increased its position in Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after buying an additional 415 shares during the period. MV Capital Management Inc. bought a new position in Monster Beverage in the 4th quarter worth approximately $30,000. Kemnay Advisory Services Inc. acquired a new position in shares of Monster Beverage during the fourth quarter worth approximately $35,000. Finally, Triumph Capital Management acquired a new position in shares of Monster Beverage during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 72.36% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on MNST shares. Weiss Ratings restated a “buy (b)” rating on shares of Monster Beverage in a research note on Thursday, June 18th. Evercore upped their target price on shares of Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Morgan Stanley set a $103.00 price target on shares of Monster Beverage and gave the stock an “overweight” rating in a research report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and an average target price of $89.35.
Monster Beverage Stock Performance
Shares of NASDAQ:MNST opened at $97.60 on Friday. Monster Beverage Corporation has a 1-year low of $58.09 and a 1-year high of $98.93. The firm has a market capitalization of $95.45 billion, a PE ratio of 47.15, a PEG ratio of 3.21 and a beta of 0.53. The business’s 50 day moving average is $88.09 and its 200-day moving average is $81.41.
Monster Beverage (NASDAQ:MNST – Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.Monster Beverage’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. On average, sell-side analysts predict that Monster Beverage Corporation will post 2.31 EPS for the current year.
Monster Beverage declared that its board has initiated a stock buyback program on Friday, May 15th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 0.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at Monster Beverage
In other Monster Beverage news, CFO Thomas J. Kelly sold 7,000 shares of Monster Beverage stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total transaction of $614,670.00. Following the sale, the chief financial officer owned 62,553 shares in the company, valued at $5,492,778.93. The trade was a 10.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Guy Carling sold 19,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $90.90, for a total transaction of $1,727,100.00. Following the completion of the sale, the chief executive officer directly owned 21,863 shares in the company, valued at $1,987,346.70. This trade represents a 46.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,700 shares of company stock worth $15,457,562 over the last three months. 8.10% of the stock is currently owned by corporate insiders.
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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