Axxcess Wealth Management LLC Has $841,000 Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Axxcess Wealth Management LLC lessened its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 52.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,188 shares of the company’s stock after selling 15,431 shares during the period. Axxcess Wealth Management LLC’s holdings in Monster Beverage were worth $841,000 as of its most recent SEC filing.

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 shares of Monster Beverage in the fourth quarter worth $27,000. Tortoise Investment Management LLC grew its stake in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Monster Beverage in the first quarter worth $37,000. Rise Advisors LLC grew its stake in shares of Monster Beverage by 187.6% in the first quarter. Rise Advisors LLC now owns 716 shares of the company’s stock worth $42,000 after acquiring an additional 467 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of Monster Beverage by 68.1% in the first quarter. Benjamin Edwards Inc. now owns 950 shares of the company’s stock worth $56,000 after acquiring an additional 385 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Up 1.8 %

Shares of Monster Beverage stock traded up $0.90 during trading on Friday, reaching $51.00. The company’s stock had a trading volume of 3,803,202 shares, compared to its average volume of 7,359,335. The stock has a 50-day moving average price of $50.70 and a two-hundred day moving average price of $54.45. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22. The stock has a market capitalization of $53.13 billion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 2.02 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 (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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Monster Beverage Co. will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the topic of several research analyst reports. Roth Mkm lowered their price objective on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 12th. TD Cowen lowered their price objective on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. Bank of America reduced their target price on Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of Monster Beverage in a research report on Monday, July 1st. Finally, Truist Financial cut Monster Beverage from a “buy” rating to a “sell” rating and reduced their target price for the stock from $65.00 to $46.00 in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Monster Beverage presently has an average rating of “Hold” and a consensus price target of $59.33.

Insider Activity at Monster Beverage

In related news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The stock was 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 directly owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the sale, the director now directly owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a filing with the SEC, 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 value of $13,055,000.00. Following the completion of the sale, the director now owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The disclosure for this sale can be found here. Insiders sold 307,221 shares of company stock valued at $16,070,374 over the last ninety days. 7.80% of the stock is owned by insiders.

About Monster Beverage

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.