43,008 Shares in Monster Beverage Corporation $MNST Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC acquired a new stake in Monster Beverage Corporation (NASDAQ:MNST) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,008 shares of the company’s stock, valued at approximately $3,116,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Monster Beverage by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 67,980,692 shares of the company’s stock valued at $5,212,080,000 after purchasing an additional 497,108 shares during the last quarter. State Street Corp raised its position in shares of Monster Beverage by 0.8% during the 4th quarter. State Street Corp now owns 38,021,648 shares of the company’s stock worth $2,915,120,000 after purchasing an additional 302,557 shares during the last quarter. Geode Capital Management LLC lifted its stake in Monster Beverage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 19,625,097 shares of the company’s stock valued at $1,509,369,000 after buying an additional 330,766 shares in the last quarter. Invesco Ltd. lifted its stake in Monster Beverage by 6.3% in the 3rd quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock valued at $785,885,000 after buying an additional 692,192 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Monster Beverage by 18.4% during the 4th quarter. Schroder Investment Management Group now owns 9,676,260 shares of the company’s stock valued at $741,879,000 after buying an additional 1,500,577 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Key Monster Beverage News

Here are the key news stories impacting Monster Beverage this week:

• Positive Sentiment: Monster Beverage announced a 2-for-1 stock split in the form of a 100% stock dividend, with record date set for July 24 and the split-adjusted shares expected to begin trading on August 11. Stock splits often boost investor interest and improve trading liquidity. Monster Beverage Declares Two-for-One Stock Split
• Positive Sentiment: Wells Fargo raised its price target on Monster Beverage to $105 from $97 and kept an overweight rating, signaling confidence in further upside. Wells Fargo price target hike
• Positive Sentiment: Royal Bank of Canada increased its target to $97 from $88 and maintained an outperform rating, adding to bullish sentiment around the stock. RBC price target hike
• Neutral Sentiment: TD Cowen also lifted its price target to $95 from $90, but kept a hold rating, suggesting limited near-term upside from its view. TD Cowen price target hike

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MNST. Royal Bank Of Canada raised their price target on Monster Beverage from $88.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley set a $103.00 price objective on Monster Beverage and gave the company an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Monster Beverage in a research report on Thursday, June 18th. Stifel Nicolaus cut their target price on shares of Monster Beverage from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, TD Cowen upped their target price on shares of Monster Beverage from $90.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.95.

Insider Transactions at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 7,000 shares of the company’s 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 completion of the sale, the chief financial officer directly owned 62,553 shares in the company, valued at $5,492,778.93. This represents a 10.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark J. Hall sold 54,000 shares of the company’s 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 owned 299,246 shares of the company’s stock, valued at $25,678,299.26. This represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 178,700 shares of company stock valued at $15,457,562. Corporate insiders own 8.10% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST stock opened at $95.15 on Thursday. Monster Beverage Corporation has a one year low of $58.09 and a one year high of $99.15. The company has a 50 day moving average price of $89.22 and a 200 day moving average price of $81.91. The firm has a market capitalization of $93.06 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 3.19 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data 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 company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. As a group, equities analysts forecast that Monster Beverage Corporation will post 2.31 EPS for the current fiscal year.

Monster Beverage announced that its board has initiated a share buyback program on Friday, May 15th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 0.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Monster Beverage 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.