Corient Capital Partners LLC Buys 1,850 Shares of Monster Beverage Co. (NASDAQ:MNST)

Corient Capital Partners LLC grew its stake in shares of Monster Beverage Co. (NASDAQ:MNSTGet Rating) by 26.8% during the second quarter, Holdings Channel reports. The institutional investor owned 8,741 shares of the company’s stock after purchasing an additional 1,850 shares during the quarter. Corient Capital Partners LLC’s holdings in Monster Beverage were worth $810,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MNST. Ancora Advisors LLC bought a new position in shares of Monster Beverage during the first quarter valued at about $27,000. Janiczek Wealth Management LLC grew its stake in shares of Monster Beverage by 311.4% during the second quarter. Janiczek Wealth Management LLC now owns 288 shares of the company’s stock valued at $29,000 after buying an additional 218 shares during the last quarter. Tcwp LLC bought a new position in shares of Monster Beverage during the first quarter valued at about $31,000. Quent Capital LLC grew its stake in shares of Monster Beverage by 45.3% during the first quarter. Quent Capital LLC now owns 430 shares of the company’s stock valued at $34,000 after buying an additional 134 shares during the last quarter. Finally, Venture Visionary Partners LLC bought a new position in shares of Monster Beverage during the second quarter valued at about $39,000. 65.49% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Emelie Tirre sold 74,998 shares of Monster Beverage stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $98.96, for a total transaction of $7,421,802.08. Following the completion of the transaction, the insider now directly owns 21,038 shares in the company, valued at $2,081,920.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Emelie Tirre sold 74,998 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $98.96, for a total value of $7,421,802.08. Following the completion of the transaction, the insider now directly owns 21,038 shares in the company, valued at approximately $2,081,920.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Guy Carling sold 36,250 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $97.66, for a total transaction of $3,540,175.00. Following the completion of the transaction, the insider now owns 25,901 shares of the company’s stock, valued at $2,529,491.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,276 shares of company stock worth $14,041,522. Insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Monster Beverage from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, October 21st. UBS Group raised their target price on Monster Beverage from $99.00 to $102.00 and gave the stock a “neutral” rating in a research note on Friday, November 4th. Wedbush assumed coverage on Monster Beverage in a research note on Monday, October 10th. They issued a “neutral” rating and a $95.00 target price on the stock. Bank of America raised their target price on Monster Beverage from $105.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Finally, Morgan Stanley raised their target price on Monster Beverage from $109.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 4th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.50.

Monster Beverage Stock Performance

Monster Beverage stock opened at $103.93 on Thursday. The stock’s 50 day simple moving average is $92.00 and its two-hundred day simple moving average is $91.60. The stock has a market cap of $54.22 billion, a price-to-earnings ratio of 45.99, a PEG ratio of 3.99 and a beta of 0.91. Monster Beverage Co. has a fifty-two week low of $71.78 and a fifty-two week high of $104.42.

Monster Beverage (NASDAQ:MNSTGet Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Monster Beverage had a net margin of 19.46% and a return on equity of 17.91%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Monster Beverage Co. will post 2.28 earnings per share for the current year.

Monster Beverage declared that its Board of Directors has authorized a share repurchase program on Thursday, November 3rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Monster Beverage Company Profile

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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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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