Cumberland Partners Ltd Boosts Position in Monster Beverage Corporation $MNST

Cumberland Partners Ltd grew its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 46.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,782 shares of the company’s stock after buying an additional 22,000 shares during the period. Cumberland Partners Ltd’s holdings in Monster Beverage were worth $5,350,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MNST. Jones Financial Companies Lllp increased its position in Monster Beverage by 397.9% during the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock worth $890,000 after buying an additional 12,148 shares in the last quarter. Sivia Capital Partners LLC increased its position in Monster Beverage by 247.7% during the second quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after buying an additional 9,251 shares in the last quarter. Cresset Asset Management LLC increased its position in Monster Beverage by 23.9% during the second quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock worth $417,000 after buying an additional 1,281 shares in the last quarter. Federated Hermes Inc. increased its position in Monster Beverage by 55.9% during the second quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock worth $301,000 after buying an additional 1,721 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Monster Beverage by 151.7% during the second quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock worth $2,134,000 after buying an additional 20,538 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MNST shares. Royal Bank Of Canada raised their price target on Monster Beverage from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. dropped their price target on Monster Beverage from $81.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Evercore raised their price target on Monster Beverage from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Bank of America dropped their price target on Monster Beverage from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Finally, Citigroup raised their price target on Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.89.

Monster Beverage Trading Up 0.5%

Shares of Monster Beverage stock opened at $86.79 on Friday. Monster Beverage Corporation has a twelve month low of $58.09 and a twelve month high of $88.77. The stock has a market capitalization of $84.88 billion, a P/E ratio of 41.93, a PEG ratio of 2.84 and a beta of 0.50. The business’s fifty day moving average price is $77.60 and its 200 day moving average price is $77.26.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, sell-side analysts predict that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage announced that its board has authorized a share repurchase program on Friday, May 15th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 0.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Monster Beverage

In other news, CFO Thomas J. Kelly sold 7,000 shares of Monster Beverage stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total transaction of $614,670.00. Following the sale, the chief financial officer directly owned 62,553 shares of the company’s stock, valued at approximately $5,492,778.93. The trade was a 10.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark J. Hall sold 54,000 shares of Monster Beverage stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 159,700 shares of company stock valued at $13,730,462 over the last three months. 8.10% of the stock is owned by company insiders.

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.