Monster Beverage Corporation $MNST Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 486,695 shares of the company’s stock after buying an additional 97,721 shares during the quarter. Corient Private Wealth LLC’s holdings in Monster Beverage were worth $37,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MNST. New York State Teachers Retirement System lifted its stake in shares of Monster Beverage by 3.4% in the 4th quarter. New York State Teachers Retirement System now owns 637,066 shares of the company’s stock worth $48,844,000 after acquiring an additional 21,169 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Monster Beverage by 7.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,605,873 shares of the company’s stock worth $122,303,000 after purchasing an additional 116,510 shares in the last quarter. Nordea Investment Management AB raised its holdings in Monster Beverage by 12.2% during the fourth quarter. Nordea Investment Management AB now owns 880,061 shares of the company’s stock worth $67,738,000 after purchasing an additional 95,606 shares in the last quarter. Ethic Inc. lifted its position in Monster Beverage by 27.0% in the fourth quarter. Ethic Inc. now owns 124,400 shares of the company’s stock valued at $9,538,000 after purchasing an additional 26,419 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Monster Beverage by 7,360.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock valued at $474,695,000 after purchasing an additional 6,108,420 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 7,000 shares of the business’s 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 directly owned 62,553 shares in the company, valued at approximately $5,492,778.93. The trade was a 10.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Emelie Tirre sold 88,700 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $85.96, for a total value of $7,624,652.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 178,700 shares of company stock valued at $15,457,562. Company insiders own 8.10% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST opened at $91.34 on Monday. Monster Beverage Corporation has a twelve month low of $58.09 and a twelve month high of $93.92. The firm has a market capitalization of $89.33 billion, a P/E ratio of 44.13, a PEG ratio of 3.01 and a beta of 0.54. The firm’s 50-day moving average is $84.04 and its two-hundred day moving average is $79.90.

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

Monster Beverage announced that its board has approved a stock repurchase program on Friday, May 15th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Monster Beverage from $81.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Wall Street Zen cut Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Stifel Nicolaus decreased their price target on Monster Beverage from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their price objective on Monster Beverage from $86.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective on Monster Beverage from $87.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.35.

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.