Advocacy Wealth Management LLC Decreases Stock Position in Monster Beverage Corporation $MNST

Advocacy Wealth Management LLC lowered its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 41.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 151,572 shares of the company’s stock after selling 108,861 shares during the quarter. Advocacy Wealth Management LLC’s holdings in Monster Beverage were worth $11,621,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MNST. Harbor Investment Advisory LLC increased its position in shares of Monster Beverage by 136.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after acquiring an additional 205 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 415 shares during the period. Triumph Capital Management purchased a new stake in shares of Monster Beverage in the 3rd quarter worth about $36,000. Redmont Wealth Advisors LLC purchased a new position in Monster Beverage during the 3rd quarter valued at about $42,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in Monster Beverage during the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Down 1.2%

MNST opened at $88.47 on Tuesday. The company has a market cap of $86.52 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 2.96 and a beta of 0.54. The company’s 50 day moving average is $80.60 and its 200 day moving average is $78.76. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $90.44.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share (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 company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. As a group, analysts predict that Monster Beverage Corporation will post 2.31 EPS for the current fiscal year.

Monster Beverage announced that its board has authorized a share buyback program on Friday, May 15th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 54,000 shares of Monster Beverage stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the transaction, the director owned 299,246 shares of the company’s stock, valued at $25,678,299.26. The trade was a 15.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Emelie Tirre sold 88,700 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the completion of the transaction, the insider directly owned 81,763 shares in the company, valued at $7,028,347.48. This trade represents a 52.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 159,700 shares of company stock valued at $13,730,462 over the last 90 days. 8.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MNST shares. Wall Street Zen cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Rothschild & Co Redburn upgraded shares of Monster Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the company from $76.00 to $90.00 in a research note on Wednesday, May 6th. TD Cowen reduced their price objective on shares of Monster Beverage from $88.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 20th. Piper Sandler raised their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Finally, Evercore raised their price objective on shares of Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.05.

Monster Beverage Company Profile

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.