Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 26.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,448 shares of the company’s stock after purchasing an additional 3,634 shares during the period. Lake Street Private Wealth LLC’s holdings in Monster Beverage were worth $1,034,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. ICA Group Wealth Management LLC acquired a new position in Monster Beverage in the 4th quarter valued at $27,000. Headinvest LLC acquired a new stake in shares of Monster Beverage in the third quarter valued at about $28,000. Tortoise Investment Management LLC boosted its position in Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares during the last quarter. Rise Advisors LLC grew its stake in Monster Beverage by 187.6% during the 1st quarter. Rise Advisors LLC now owns 716 shares of the company’s stock valued at $42,000 after acquiring an additional 467 shares in the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Monster Beverage during the 1st quarter worth approximately $66,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Down 0.4 %

MNST stock opened at $49.16 on Thursday. The business has a 50 day simple moving average of $52.09 and a 200-day simple moving average of $55.20. The company has a market capitalization of $51.21 billion, a P/E ratio of 30.92, a PEG ratio of 1.96 and a beta of 0.76. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts predict that Monster Beverage Co. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the transaction, the chief executive officer now owns 1,875,558 shares in the company, valued at approximately $99,404,574. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Vidergauz sold 15,077 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the sale, the director now directly owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The disclosure for this sale can be found here. Insiders sold a total of 307,221 shares of company stock valued at $16,070,374 over the last three months. 7.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MNST. UBS Group cut their target price on Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Morgan Stanley cut their target price on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Redburn Atlantic began coverage on Monster Beverage in a report on Wednesday, March 6th. They set a “buy” rating for the company. Roth Mkm cut their price objective on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. Finally, Truist Financial downgraded Monster Beverage from a “buy” rating to a “sell” rating and dropped their target price for the company from $65.00 to $46.00 in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.05.

About Monster Beverage

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.