52,275 Shares in Monster Beverage Corporation $MNST Bought by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP acquired a new position in Monster Beverage Corporation (NASDAQ:MNST) during the 4th quarter, HoldingsChannel reports. The fund acquired 52,275 shares of the company’s stock, valued at approximately $4,008,000. Monster Beverage accounts for about 1.1% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 29th largest holding.

Other institutional investors also recently modified their holdings of the company. Physician Wealth Advisors Inc. grew its stake in shares of Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after purchasing an additional 315 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in shares of Monster Beverage by 136.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after purchasing an additional 205 shares during the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 415 shares during the last quarter. First Horizon Corp bought a new stake in shares of Monster Beverage in the third quarter worth $29,000. Finally, Triumph Capital Management bought a new stake in Monster Beverage during the third quarter valued at $36,000. Institutional investors own 72.36% of the company’s stock.

Insider Activity at Monster Beverage

In related news, insider Emelie Tirre sold 88,700 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $85.96, for a total value of $7,624,652.00. Following the transaction, the insider owned 81,763 shares of the company’s stock, valued at approximately $7,028,347.48. This trade represents a 52.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark J. Hall sold 54,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the completion of the transaction, the director directly owned 299,246 shares in the company, valued at approximately $25,678,299.26. The trade was a 15.29% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 159,700 shares of company stock valued at $13,730,462. 8.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on MNST shares. Stifel Nicolaus cut their price target on shares of Monster Beverage from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. BNP Paribas Exane raised shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target on the stock in a research report on Friday, January 16th. TD Cowen cut their price target on shares of Monster Beverage from $88.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, April 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $100.00 price target (up from $96.00) on shares of Monster Beverage in a research report on Sunday, May 10th. Finally, Rothschild & Co Redburn raised shares of Monster Beverage from a “neutral” rating to a “buy” rating and upped their price target for the company from $76.00 to $90.00 in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.37.

Monster Beverage Price Performance

MNST stock opened at $87.09 on Friday. The stock has a market capitalization of $85.17 billion, a PE ratio of 42.07, a price-to-earnings-growth ratio of 2.82 and a beta of 0.50. The company’s 50-day moving average is $76.55 and its 200-day moving average is $76.59. Monster Beverage Corporation has a 1 year low of $58.09 and a 1 year high of $88.77.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The business’s revenue was up 22.6% on a year-over-year basis. On average, analysts anticipate that Monster Beverage Corporation will post 2.31 earnings per share for the current fiscal year.

Monster Beverage declared that its Board of Directors has authorized a stock buyback plan on Friday, May 15th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 0.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.