Integrity Wealth Partners LLC Invests $478,000 in Monster Beverage Corporation $MNST

Integrity Wealth Partners LLC acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,600 shares of the company’s stock, valued at approximately $478,000.

A number of other institutional investors have also recently bought and sold shares of MNST. Capital Advisory Group Advisory Services LLC grew its stake in Monster Beverage by 2.8% in the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 4,841 shares of the company’s stock valued at $371,000 after purchasing an additional 133 shares in the last quarter. Williams Jones Wealth Management LLC. increased its position in Monster Beverage by 2.2% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 6,134 shares of the company’s stock worth $470,000 after purchasing an additional 134 shares during the last quarter. Root Financial Partners LLC raised its stake in shares of Monster Beverage by 2.8% during the 1st quarter. Root Financial Partners LLC now owns 4,981 shares of the company’s stock worth $361,000 after purchasing an additional 137 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Monster Beverage by 3.6% during the 4th quarter. D.A. Davidson & CO. now owns 4,071 shares of the company’s stock worth $312,000 after purchasing an additional 141 shares in the last quarter. Finally, Earned Wealth Advisors LLC lifted its holdings in shares of Monster Beverage by 3.8% during the 4th quarter. Earned Wealth Advisors LLC now owns 4,171 shares of the company’s stock valued at $320,000 after buying an additional 151 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group set a $100.00 price target on Monster Beverage in a research note on Wednesday, March 11th. TD Cowen cut their price objective on shares of Monster Beverage from $88.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, April 20th. Evercore lifted their target price 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. Bank of America decreased their target price on shares of Monster Beverage from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Finally, Morgan Stanley set a $103.00 price target on shares of Monster Beverage and gave the stock an “overweight” rating in a research note on Monday, June 1st. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.35.

Monster Beverage Stock Performance

MNST opened at $97.60 on Friday. The company has a market cap of $95.45 billion, a PE ratio of 47.15, a price-to-earnings-growth ratio of 3.21 and a beta of 0.53. The stock has a 50-day moving average of $88.09 and a 200-day moving average of $81.41. Monster Beverage Corporation has a 52-week low of $58.09 and a 52-week high of $98.93.

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

Monster Beverage declared that its Board of Directors has approved a stock repurchase program on Friday, May 15th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 0.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other 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 value 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. This trade represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief financial officer owned 62,553 shares of the company’s stock, valued at $5,492,778.93. The trade was a 10.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 178,700 shares of company stock worth $15,457,562 over the last ninety days. 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.