Signal Advisors Wealth LLC Invests $884,000 in Monster Beverage Corporation $MNST

Signal Advisors Wealth LLC purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,201 shares of the company’s stock, valued at approximately $884,000.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC boosted its position in Monster Beverage by 136.7% during 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 period. MV Capital Management Inc. acquired a new position in shares of Monster Beverage in the fourth quarter valued at $30,000. Newbridge Financial Services Group Inc. raised its position in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Monster Beverage in the fourth quarter valued at about $35,000. Finally, Miller Capital Partners Inc. acquired a new stake in shares of Monster Beverage during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Rothschild & Co Redburn raised shares of Monster Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $90.00 in a report on Wednesday, May 6th. Evercore increased their price target on shares of Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Royal Bank Of Canada raised their price objective on shares of Monster Beverage from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Citigroup boosted their price objective on Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Piper Sandler upped their target price on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and an average price target of $89.35.

Monster Beverage Stock Performance

MNST stock opened at $94.70 on Thursday. The company’s 50-day simple moving average is $85.13 and its 200 day simple moving average is $80.32. Monster Beverage Corporation has a 52 week low of $58.09 and a 52 week high of $95.75. The company has a market capitalization of $92.62 billion, a PE ratio of 45.75, a price-to-earnings-growth ratio of 3.08 and a beta of 0.54.

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

Monster Beverage announced that its board has authorized a share repurchase plan on Friday, May 15th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 0.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Monster Beverage

In other news, CEO Guy Carling sold 19,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 21,863 shares of the company’s stock, valued at approximately $1,987,346.70. This trade represents a 46.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Emelie Tirre sold 88,700 shares of Monster Beverage stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the completion of the sale, the insider owned 81,763 shares of the company’s stock, valued at approximately $7,028,347.48. The trade was a 52.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 178,700 shares of company stock worth $15,457,562. 8.10% of the stock is currently owned by company insiders.

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.