Whitaker Myers Wealth Managers LTD. Makes New Investment in Monster Beverage Co. (NASDAQ:MNST)

Whitaker Myers Wealth Managers LTD. purchased a new position in shares of Monster Beverage Co. (NASDAQ:MNST) during the 1st quarter, Holdings Channel.com reports. The fund purchased 3,902 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MNST. ICA Group Wealth Management LLC acquired a new stake in Monster Beverage during the 4th quarter worth about $27,000. Headinvest LLC acquired a new stake in shares of Monster Beverage during the 3rd quarter valued at about $28,000. Tortoise Investment Management LLC grew its position in shares of Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 396 shares during the period. Rise Advisors LLC grew its position in shares of Monster Beverage by 187.6% during the 1st quarter. Rise Advisors LLC now owns 716 shares of the company’s stock valued at $42,000 after acquiring an additional 467 shares during the period. Finally, Quent Capital LLC grew its position in shares of Monster Beverage by 40.8% during the 4th quarter. Quent Capital LLC now owns 1,180 shares of the company’s stock valued at $68,000 after acquiring an additional 342 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the sale, the director now owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Mark J. Hall sold 250,000 shares of Monster Beverage stock in a transaction that occurred 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 completion of the sale, the director now owns 532,754 shares in the company, valued at approximately $27,820,413.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 of the company’s stock, valued at approximately $3,534,458.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 307,221 shares of company stock valued at $16,070,374. 7.80% of the stock is currently owned by company insiders.

Monster Beverage Stock Up 0.8 %

MNST traded up $0.40 during trading on Monday, reaching $49.49. The company’s stock had a trading volume of 9,289,877 shares, compared to its average volume of 7,634,776. The firm has a fifty day simple moving average of $52.54 and a two-hundred day simple moving average of $55.43. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22. The company has a market cap of $51.56 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.93 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. As a group, equities analysts forecast that Monster Beverage Co. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on MNST. Roth Mkm dropped their target price on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 12th. Royal Bank of Canada restated an “outperform” rating and set a $65.00 target price on shares of Monster Beverage in a research report on Friday, June 14th. Truist Financial cut Monster Beverage from a “buy” rating to a “sell” rating and dropped their target price for the company from $65.00 to $46.00 in a research report on Thursday, April 25th. Stifel Nicolaus decreased their price target on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, June 17th. Finally, UBS Group decreased their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.15.

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.