RFG Advisory LLC Has $616,000 Holdings in Monster Beverage Corporation $MNST

RFG Advisory LLC increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 175.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,508 shares of the company’s stock after acquiring an additional 5,416 shares during the period. RFG Advisory LLC’s holdings in Monster Beverage were worth $616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MNST. Jones Financial Companies Lllp increased its stake in shares of Monster Beverage by 397.9% in the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after buying an additional 12,148 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Monster Beverage by 247.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after buying an additional 9,251 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Monster Beverage by 23.9% during the 2nd quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock worth $417,000 after acquiring an additional 1,281 shares during the last quarter. Federated Hermes Inc. increased its position in Monster Beverage by 55.9% in the 2nd quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock valued at $301,000 after acquiring an additional 1,721 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Monster Beverage by 151.7% in the 2nd quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock valued at $2,134,000 after acquiring an additional 20,538 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Price Performance

MNST opened at $97.64 on Tuesday. The company has a market cap of $95.49 billion, a price-to-earnings ratio of 47.17, a price-to-earnings-growth ratio of 3.17 and a beta of 0.54. The firm has a 50 day simple moving average of $86.41 and a 200 day simple moving average of $80.80. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $97.87.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data 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. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, analysts expect that Monster Beverage Corporation will post 2.31 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Monster Beverage from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Sanford C. Bernstein assumed coverage on shares of Monster Beverage in a research report on Friday, June 12th. They issued a “market perform” rating and a $95.00 price objective for the company. Jefferies Financial Group set a $100.00 price objective on Monster Beverage in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a report on Thursday, June 18th. Finally, Evercore increased their price objective on Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.35.

Insider Buying and Selling

In other news, CFO Thomas J. Kelly sold 7,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total value of $614,670.00. Following the transaction, the chief financial officer owned 62,553 shares of the company’s stock, valued at $5,492,778.93. This represents a 10.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Guy Carling sold 19,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $90.90, for a total value of $1,727,100.00. Following the completion of the transaction, the chief executive officer owned 21,863 shares in the company, valued at $1,987,346.70. This represents a 46.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 178,700 shares of company stock worth $15,457,562. Company insiders own 8.10% of the company’s stock.

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.