Axxcess Wealth Management LLC Invests $3.12 Million in Monster Beverage Corporation $MNST

Axxcess Wealth Management LLC bought a new stake in Monster Beverage Corporation (NASDAQ:MNST) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 43,008 shares of the company’s stock, valued at approximately $3,116,000.

Several other large investors also recently bought and sold shares of MNST. Norges Bank acquired a new stake in Monster Beverage during the 4th quarter worth $691,104,000. Massachusetts Financial Services Co. MA increased its stake 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. Wellington Management Group LLP raised its holdings in shares of Monster Beverage by 133.4% in the fourth quarter. Wellington Management Group LLP now owns 8,499,546 shares of the company’s stock valued at $651,660,000 after buying an additional 4,858,109 shares during the last quarter. State Street Corp raised its holdings in shares of Monster Beverage by 8.0% in the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock valued at $2,538,872,000 after buying an additional 2,789,273 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Monster Beverage by 71.4% during the third quarter. Capital Research Global Investors now owns 5,033,066 shares of the company’s stock worth $338,765,000 after buying an additional 2,096,575 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage News Summary

Here are the key news stories impacting Monster Beverage this week:

• Positive Sentiment: Monster Beverage announced a 2-for-1 stock split in the form of a 100% stock dividend, with record date set for July 24 and the split-adjusted shares expected to begin trading on August 11. Stock splits often boost investor interest and improve trading liquidity. Monster Beverage Declares Two-for-One Stock Split
• Positive Sentiment: Wells Fargo raised its price target on Monster Beverage to $105 from $97 and kept an overweight rating, signaling confidence in further upside. Wells Fargo price target hike
• Positive Sentiment: Royal Bank of Canada increased its target to $97 from $88 and maintained an outperform rating, adding to bullish sentiment around the stock. RBC price target hike
• Neutral Sentiment: TD Cowen also lifted its price target to $95 from $90, but kept a hold rating, suggesting limited near-term upside from its view. TD Cowen price target hike

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MNST shares. Evercore raised their price target on Monster Beverage from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Sanford C. Bernstein started coverage on Monster Beverage in a research report on Friday, June 12th. They set a “market perform” rating and a $95.00 price objective for the company. Morgan Stanley set a $103.00 target price on Monster Beverage and gave the company an “overweight” rating in a research note on Monday, June 1st. Jefferies Financial Group set a $100.00 target price on Monster Beverage in a report on Wednesday, March 11th. Finally, Royal Bank Of Canada upped their price target on Monster Beverage from $88.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.95.

Monster Beverage Trading Down 1.8%

Shares of MNST stock opened at $95.15 on Thursday. The stock has a 50 day simple moving average of $89.22 and a 200-day simple moving average of $81.91. The company has a market cap of $93.06 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 3.19 and a beta of 0.53. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $99.15.

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

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

Insider Activity at Monster Beverage

In other news, CEO Guy Carling sold 19,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $90.90, for a total transaction of $1,727,100.00. Following the transaction, the chief executive officer directly owned 21,863 shares of the company’s stock, valued at $1,987,346.70. This represents a 46.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Emelie Tirre sold 10,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $85.74, for a total transaction of $857,400.00. Following the completion of the transaction, the insider owned 71,763 shares of the company’s stock, valued at $6,152,959.62. This represents a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 178,700 shares of company stock valued at $15,457,562 over the last 90 days. Company insiders own 8.10% of the company’s stock.

Monster Beverage 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.