Aaron Wealth Advisors LLC Sells 5,471 Shares of Monster Beverage Corporation $MNST

Aaron Wealth Advisors LLC lowered its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 14.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,530 shares of the company’s stock after selling 5,471 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Monster Beverage were worth $2,357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Monster Beverage by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 67,980,692 shares of the company’s stock worth $5,212,080,000 after purchasing an additional 497,108 shares during the last quarter. State Street Corp increased its stake in shares of Monster Beverage by 0.8% in the 4th quarter. State Street Corp now owns 38,021,648 shares of the company’s stock valued at $2,915,120,000 after purchasing an additional 302,557 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Monster Beverage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 19,625,097 shares of the company’s stock valued at $1,509,369,000 after purchasing an additional 330,766 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Monster Beverage by 6.3% during the 3rd quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock worth $785,885,000 after buying an additional 692,192 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Monster Beverage by 18.4% during the 4th quarter. Schroder Investment Management Group now owns 9,676,260 shares of the company’s stock worth $741,879,000 after buying an additional 1,500,577 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Monster Beverage stock opened at $95.83 on Friday. The business has a 50 day moving average of $85.54 and a 200-day moving average of $80.47. The company has a market capitalization of $93.72 billion, a P/E ratio of 46.29, a P/E/G ratio of 3.12 and a beta of 0.54. Monster Beverage Corporation has a 1 year low of $58.09 and a 1 year high of $96.06.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Friday, May 8th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $2.32 billion for 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 firm’s revenue was up 22.6% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. Equities analysts anticipate that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage declared that its board has initiated a stock repurchase program on Friday, May 15th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 0.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Guy Carling sold 19,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $90.90, for a total transaction of $1,727,100.00. Following the completion of the transaction, the chief executive officer directly owned 21,863 shares in the company, valued at $1,987,346.70. This trade represents a 46.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Emelie Tirre sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.74, for a total value of $857,400.00. Following the completion of the transaction, the insider directly owned 71,763 shares in the company, valued at approximately $6,152,959.62. This represents a 12.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 178,700 shares of company stock worth $15,457,562. Corporate insiders own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

MNST has been the topic of several research analyst reports. Stifel Nicolaus reduced their price objective 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. Weiss Ratings reissued a “buy (b)” rating on shares of Monster Beverage in a research note on Thursday, June 18th. Piper Sandler increased their target price on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. UBS Group reaffirmed a “neutral” rating and set a $84.00 price target (up from $80.00) on shares of Monster Beverage in a report on Friday, May 8th. Finally, Morgan Stanley set a $103.00 price objective on shares of Monster Beverage and gave the stock an “overweight” rating in a research report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.