Commerzbank Aktiengesellschaft FI increased its stake in Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 34.1% during the 4th quarter, HoldingsChannel reports. The firm owned 162,500 shares of the company’s stock after buying an additional 41,333 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Monster Beverage were worth $12,459,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its holdings in Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after purchasing an additional 315 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in Monster Beverage by 136.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after purchasing an additional 205 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 415 shares during the last quarter. First Horizon Corp purchased a new stake in Monster Beverage in the third quarter worth approximately $29,000. Finally, Triumph Capital Management purchased a new stake in Monster Beverage in the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.
Analyst Upgrades and Downgrades
MNST has been the topic of several research reports. Wells Fargo & Company raised their target price on shares of Monster Beverage from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. JPMorgan Chase & Co. dropped their price target on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Argus lifted their price target on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. BNP Paribas Exane upgraded shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target on the stock in a research note on Friday, January 16th. Finally, UBS Group reiterated a “neutral” rating and set 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.37.
Insider Activity
In other news, insider Emelie Tirre sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.74, for a total transaction of $857,400.00. Following the sale, the insider directly owned 71,763 shares in the company, valued at $6,152,959.62. This trade represents a 12.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Kelly sold 7,000 shares of the firm’s 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 disclosure for this sale is available in the SEC filing. Insiders have sold 159,700 shares of company stock worth $13,730,462 in the last three months. Company insiders own 8.10% of the company’s stock.
Monster Beverage Price Performance
Shares of Monster Beverage stock opened at $87.09 on Friday. The company’s fifty day simple moving average is $76.55 and its 200-day simple moving average is $76.59. The stock has a market capitalization of $85.17 billion, a PE ratio of 42.07, a P/E/G ratio of 2.82 and a beta of 0.50. Monster Beverage Corporation has a 1-year low of $58.09 and a 1-year high of $88.77.
Monster Beverage (NASDAQ:MNST – Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate 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 net margin of 23.11% and a return on equity of 26.86%. The company’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. As a group, research analysts anticipate that Monster Beverage Corporation will post 2.31 EPS for the current year.
Monster Beverage announced that its Board of Directors has approved a stock buyback plan on Friday, May 15th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 0.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Monster Beverage 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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