PKO Investment Management Joint Stock Co Acquires 10,000 Shares of Monster Beverage Corporation $MNST

PKO Investment Management Joint Stock Co increased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 58.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Monster Beverage were worth $1,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MNST. Harbor Investment Advisory LLC grew its stake in shares of Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after buying an additional 205 shares during the last quarter. MV Capital Management Inc. bought a new stake in shares of Monster Beverage in the 4th quarter valued at about $30,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after acquiring an additional 415 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Monster Beverage during the 4th quarter valued at about $35,000. Finally, Miller Capital Partners Inc. purchased a new stake in Monster Beverage during the 4th quarter valued at about $36,000. 72.36% of the stock is owned by institutional investors.

Insider Activity at Monster Beverage

In other news, CFO Thomas J. Kelly sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total value of $614,670.00. Following the completion of the sale, the chief financial officer directly owned 62,553 shares of the company’s stock, valued at approximately $5,492,778.93. This trade represents a 10.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark J. Hall sold 54,000 shares of Monster Beverage 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 sale, the director directly owned 299,246 shares in the company, valued at $25,678,299.26. The trade was a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 178,700 shares of company stock valued at $15,457,562 in the last 90 days. 8.10% of the stock is owned by company insiders.

Monster Beverage Stock Performance

NASDAQ MNST opened at $93.02 on Tuesday. The stock has a market cap of $90.97 billion, a P/E ratio of 44.94, a price-to-earnings-growth ratio of 3.01 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $93.92. The stock has a 50 day simple moving average of $84.37 and a two-hundred day simple moving average of $80.03.

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

Monster Beverage announced that its Board of Directors has initiated a share repurchase plan on Friday, May 15th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

MNST has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price target on Monster Beverage from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Rothschild & Co Redburn raised Monster Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the company from $76.00 to $90.00 in a research note on Wednesday, May 6th. Bank of America cut their target price on shares of Monster Beverage from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Piper Sandler lifted their target price on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.35.

Monster Beverage Company Profile

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.