Redmont Wealth Advisors LLC Takes $66,000 Position in Monster Beverage Co. (NASDAQ:MNST)

Redmont Wealth Advisors LLC purchased a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) in the 1st quarter, Holdings Channel.com reports. The fund purchased 1,120 shares of the company’s stock, valued at approximately $66,000.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Monster Beverage by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 63,682,310 shares of the company’s stock valued at $3,668,738,000 after acquiring an additional 550,293 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Monster Beverage by 20.3% during the third quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock worth $1,033,323,000 after buying an additional 3,296,466 shares during the period. Clearbridge Investments LLC increased its position in shares of Monster Beverage by 2.9% during the fourth quarter. Clearbridge Investments LLC now owns 11,622,228 shares of the company’s stock worth $669,557,000 after buying an additional 330,740 shares during the period. Capital Research Global Investors increased its position in shares of Monster Beverage by 40.6% during the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock worth $603,659,000 after buying an additional 3,026,657 shares during the period. Finally, Norges Bank acquired a new stake in shares of Monster Beverage during the fourth quarter worth $517,035,000. Institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the subject of several recent analyst reports. HSBC decreased their price objective on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Wells Fargo & Company decreased their price objective on shares of Monster Beverage from $65.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Monster Beverage from $66.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, June 14th. BMO Capital Markets reduced their price target on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Finally, Morgan Stanley reduced their price target on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.05.

Monster Beverage Stock Performance

Shares of Monster Beverage stock traded down $0.18 during trading hours on Wednesday, reaching $49.16. The company’s stock had a trading volume of 4,172,023 shares, compared to its average volume of 7,570,869. The stock’s fifty day simple moving average is $52.09 and its two-hundred day simple moving average is $55.20. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22. The company has a market capitalization of $51.21 billion, a P/E ratio of 30.92, a P/E/G ratio of 1.98 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 earnings per share 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 firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts forecast that Monster Beverage Co. will post 1.76 earnings per share for the current year.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the sale, the director now owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares in the company, valued at $3,534,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of Monster Beverage stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the completion of the transaction, 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. Insiders have sold 307,221 shares of company stock valued at $16,070,374 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage 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.