Clarity Capital Partners LLC Buys New Shares in Monster Beverage Co. (NASDAQ:MNST)

Clarity Capital Partners LLC bought a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,863 shares of the company’s stock, valued at approximately $914,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MNST. Norges Bank purchased a new position in Monster Beverage during the fourth quarter valued at $517,035,000. Wellington Management Group LLP lifted its position in Monster Beverage by 20.3% during the third quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock valued at $1,033,323,000 after purchasing an additional 3,296,466 shares in the last quarter. Capital Research Global Investors raised its holdings in Monster Beverage by 40.6% during the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after acquiring an additional 3,026,657 shares during the period. TD Asset Management Inc raised its holdings in Monster Beverage by 143.8% during the fourth quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock valued at $184,921,000 after acquiring an additional 1,893,064 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in Monster Beverage by 85.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,114,288 shares of the company’s stock valued at $121,804,000 after acquiring an additional 974,610 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MNST shares. Deutsche Bank Aktiengesellschaft decreased their price target on Monster Beverage from $66.00 to $63.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price target on shares of Monster Beverage in a report on Friday. Morgan Stanley decreased their price target on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday. Piper Sandler raised their price target on Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Roth Mkm decreased their price target on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.11.

Monster Beverage Stock Performance

MNST stock traded down $0.69 during midday trading on Friday, reaching $48.03. 10,690,751 shares of the company traded hands, compared to its average volume of 7,514,386. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $61.22. The business has a 50 day moving average of $53.27 and a 200-day moving average of $55.66. The firm has a market capitalization of $50.03 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 2.09 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts anticipate that Monster Beverage Co. will post 1.77 earnings per share for the current year.

Insider Activity

In other news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the sale, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the sale, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $52.22, for a total value of $13,055,000.00. Following the sale, the director now owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 307,221 shares of company stock worth $16,070,374. Insiders own 7.80% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.