Exchange Traded Concepts LLC Raises Stake in Monster Beverage Corporation (NASDAQ:MNST)

Exchange Traded Concepts LLC boosted its position in Monster Beverage Corporation (NASDAQ:MNST) by 142.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 15,643 shares of the company’s stock after purchasing an additional 9,181 shares during the period. Exchange Traded Concepts LLC’s holdings in Monster Beverage were worth $915,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Monster Beverage in the fourth quarter valued at approximately $31,000. Park Square Financial Group LLC purchased a new stake in Monster Beverage in the fourth quarter valued at approximately $36,000. Coppell Advisory Solutions LLC boosted its position in Monster Beverage by 259.2% in the fourth quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company’s stock valued at $36,000 after buying an additional 495 shares during the last quarter. CVA Family Office LLC boosted its position in Monster Beverage by 28.6% in the 1st quarter. CVA Family Office LLC now owns 1,519 shares of the company’s stock worth $89,000 after purchasing an additional 338 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in Monster Beverage by 541.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the company’s stock worth $90,000 after purchasing an additional 1,446 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Activity at Monster Beverage

In related news, insider Emelie Tirre sold 8,796 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the completion of the transaction, the insider now directly owns 89,501 shares of the company’s stock, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the transaction, the chief financial officer now directly owns 69,273 shares of the company’s stock, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Truist Financial upped their price objective on Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, April 23rd. Piper Sandler upped their price objective on Monster Beverage from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Needham & Company LLC restated a “hold” rating on shares of Monster Beverage in a research report on Friday, February 28th. Stifel Nicolaus assumed coverage on Monster Beverage in a research report on Thursday, June 12th. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Monster Beverage from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.05.

Monster Beverage Stock Up 0.7%

NASDAQ MNST opened at $63.19 on Friday. The business has a fifty day moving average price of $61.43 and a 200 day moving average price of $55.73. Monster Beverage Corporation has a one year low of $43.32 and a one year high of $64.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. The company has a market cap of $61.63 billion, a P/E ratio of 41.57, a P/E/G ratio of 2.24 and a beta of 0.60.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the company earned $0.42 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. Research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Monster Beverage Company Profile

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.