KFG Wealth Management LLC Acquires 492 Shares of Monster Beverage Co. (NASDAQ:MNST)

KFG Wealth Management LLC grew its position in Monster Beverage Co. (NASDAQ:MNST) by 6.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,264 shares of the company’s stock after buying an additional 492 shares during the period. KFG Wealth Management LLC’s holdings in Monster Beverage were worth $413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MNST. International Assets Investment Management LLC increased its stake in shares of Monster Beverage by 1,220.2% in the 4th quarter. International Assets Investment Management LLC now owns 36,755 shares of the company’s stock valued at $2,117,000 after buying an additional 33,971 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Monster Beverage by 32.7% in the 4th quarter. Vontobel Holding Ltd. now owns 53,442 shares of the company’s stock valued at $3,079,000 after buying an additional 13,157 shares during the period. TRUE Private Wealth Advisors increased its stake in shares of Monster Beverage by 40.5% in the 4th quarter. TRUE Private Wealth Advisors now owns 6,633 shares of the company’s stock valued at $382,000 after buying an additional 1,912 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Monster Beverage by 5.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 118,231 shares of the company’s stock valued at $6,811,000 after buying an additional 5,723 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Monster Beverage by 377.4% in the 4th quarter. Federated Hermes Inc. now owns 16,402 shares of the company’s stock valued at $945,000 after buying an additional 12,966 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at $99,404,574. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the sale, the chief executive officer now owns 1,875,558 shares in the company, valued at $99,404,574. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Vidergauz sold 15,077 shares of the company’s 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 sale, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The disclosure for this sale can be found here. Insiders have sold a total of 307,221 shares of company stock worth $16,070,374 over the last three months. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets decreased their price objective on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Truist Financial decreased their price objective on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group decreased their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, UBS Group decreased their price objective on Monster Beverage from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.85.

Monster Beverage Trading Down 0.5 %

Shares of Monster Beverage stock traded down $0.25 during trading on Friday, reaching $46.74. The stock had a trading volume of 4,611,563 shares, compared to its average volume of 7,417,149. The company has a market capitalization of $48.69 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 2.09 and a beta of 0.76. The stock has a fifty day moving average price of $49.56 and a two-hundred day moving average price of $53.51. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. On average, equities analysts forecast that Monster Beverage Co. will post 1.75 EPS for the current fiscal year.

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.