Ritholtz Wealth Management Boosts Stake in Monster Beverage Corporation (NASDAQ:MNST)

Ritholtz Wealth Management boosted its position in Monster Beverage Corporation (NASDAQ:MNSTFree Report) by 5.5% in the 1st quarter, Holdings Channel reports. The firm owned 5,138 shares of the company’s stock after buying an additional 267 shares during the quarter. Ritholtz Wealth Management’s holdings in Monster Beverage were worth $301,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Monster Beverage by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company’s stock valued at $897,012,000 after buying an additional 1,383,914 shares during the period. Invesco Ltd. boosted its position in shares of Monster Beverage by 9.3% during the fourth quarter. Invesco Ltd. now owns 8,590,994 shares of the company’s stock valued at $451,543,000 after buying an additional 734,406 shares during the period. Norges Bank purchased a new position in shares of Monster Beverage during the fourth quarter valued at approximately $442,642,000. Northern Trust Corp boosted its position in shares of Monster Beverage by 12.6% during the fourth quarter. Northern Trust Corp now owns 7,357,921 shares of the company’s stock valued at $386,732,000 after buying an additional 825,489 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Monster Beverage by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company’s stock valued at $284,146,000 after buying an additional 493,914 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup boosted their target price on Monster Beverage from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 14th. Wells Fargo & Company boosted their target price on Monster Beverage from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, June 13th. Piper Sandler boosted their target price on Monster Beverage from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. CICC Research raised shares of Monster Beverage from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $56.00 to $65.00 in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Monster Beverage from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.05.

Read Our Latest Research Report on Monster Beverage

Monster Beverage Stock Down 0.2%

Shares of NASDAQ MNST opened at $63.09 on Friday. The company has a current ratio of 3.37, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $61.53 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 2.24 and a beta of 0.60. The stock’s fifty day simple moving average is $61.53 and its two-hundred day simple moving average is $55.79. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45.

Monster Beverage (NASDAQ:MNSTGet Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. As a group, analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage 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 transaction of $549,398.16. Following the sale, the insider now owns 89,501 shares of the company’s stock, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the chief financial officer now directly owns 69,273 shares in the company, valued at $4,391,908.20. This trade represents a 28.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.30% of the company’s stock.

About Monster Beverage

(Free Report)

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.

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

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