Envestnet Portfolio Solutions Inc. Acquires 8,180 Shares of Monster Beverage Corporation $MNST

Envestnet Portfolio Solutions Inc. raised its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 13.3% in the fourth quarter, Holdings Channel reports. The firm owned 69,525 shares of the company’s stock after purchasing an additional 8,180 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Monster Beverage were worth $5,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Capital Advisory Group Advisory Services LLC increased its stake in shares of Monster Beverage by 2.8% during the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 4,841 shares of the company’s stock worth $371,000 after purchasing an additional 133 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Monster Beverage by 3.6% during the 4th quarter. D.A. Davidson & CO. now owns 4,071 shares of the company’s stock worth $312,000 after purchasing an additional 141 shares during the last quarter. Earned Wealth Advisors LLC increased its stake in shares of Monster Beverage by 3.8% during the 4th quarter. Earned Wealth Advisors LLC now owns 4,171 shares of the company’s stock worth $320,000 after purchasing an additional 151 shares during the last quarter. Sage Mountain Advisors LLC increased its stake in shares of Monster Beverage by 1.4% during the 4th quarter. Sage Mountain Advisors LLC now owns 11,123 shares of the company’s stock worth $853,000 after purchasing an additional 154 shares during the last quarter. Finally, Premier Path Wealth Partners LLC increased its stake in shares of Monster Beverage by 3.2% during the 3rd quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company’s stock worth $353,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

NASDAQ:MNST opened at $86.88 on Thursday. The company has a market cap of $84.97 billion, a P/E ratio of 41.97, a P/E/G ratio of 2.84 and a beta of 0.50. The stock’s fifty day moving average price is $77.22 and its two-hundred day moving average price is $77.06. Monster Beverage Corporation has a 1 year low of $58.09 and a 1 year high of $88.77.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 earnings per share. On average, analysts expect that Monster Beverage Corporation will post 2.31 earnings per share for the current fiscal year.

Monster Beverage declared that its board has approved a share repurchase plan on Friday, May 15th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 0.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Monster Beverage news, CFO Thomas J. Kelly sold 7,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was 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. This represents a 10.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Emelie Tirre sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 71,763 shares of the company’s stock, valued at $6,152,959.62. This trade represents a 12.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,700 shares of company stock worth $13,730,462 over the last 90 days. Corporate insiders own 8.10% of the company’s stock.

Analysts Set New Price Targets

MNST has been the subject of several research analyst reports. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Citigroup raised their price target on shares of Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Rothschild & Co Redburn upgraded Monster Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $90.00 in a research note on Wednesday, May 6th. Bank of America lowered their price objective on Monster Beverage from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, UBS Group restated a “neutral” rating and issued a $84.00 price objective (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 assigned a Hold rating to the company. According to MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and a consensus price target of $88.89.

About Monster Beverage

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.