Nicolet Advisory Services LLC Takes Position in Monster Beverage Corporation (NASDAQ:MNST)

Key Points

• Nicolet Advisory Services LLC acquired a new position in Monster Beverage Corporation, purchasing 11,417 shares valued at approximately $660,000 in the 1st quarter.
• Corporate insiders, including CFO Thomas J. Kelly and Emelie Tirre, have sold significant amounts of stock, indicating a decrease in ownership for both individuals.
• Monster Beverage's recent earnings report showed an EPS of $0.47, beating analysts' expectations, but its revenue declined by 2.3% compared to the previous year.

Nicolet Advisory Services LLC acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,417 shares of the company's stock, valued at approximately $660,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MNST. Wayfinding Financial LLC bought a new position in Monster Beverage during the 1st quarter worth approximately $29,000. Coppell Advisory Solutions LLC raised its holdings in Monster Beverage by 259.2% during the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock worth $36,000 after buying an additional 495 shares during the period. Park Square Financial Group LLC acquired a new stake in Monster Beverage during the 4th quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after buying an additional 196 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in Monster Beverage during the 1st quarter worth approximately $43,000. Institutional investors own 72.36% of the company's stock.

Monster Beverage Stock Up 0.9%

Shares of NASDAQ:MNST traded up $0.53 during midday trading on Wednesday, hitting $59.57. The stock had a trading volume of 7,428,859 shares, compared to its average volume of 6,116,765. Monster Beverage Corporation has a 12 month low of $43.32 and a 12 month high of $64.45. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03. The business's 50-day simple moving average is $61.67 and its 200-day simple moving average is $57.79. The company has a market cap of $58.10 billion, a P/E ratio of 39.22, a PEG ratio of 2.17 and a beta of 0.55.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The firm had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the previous year, the business posted $0.42 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of Monster Beverage stock in a transaction on Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the transaction, the insider directly owned 89,501 shares of the company's stock, valued at $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the transaction, the chief financial officer directly owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.30% of the company's stock.

Analyst Ratings Changes

MNST has been the topic of several research analyst reports. Roth Capital raised their target price on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Bank of America raised their target price on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, April 25th. The Goldman Sachs Group raised their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Roth Mkm raised their target price on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Finally, Redburn Atlantic downgraded shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $63.00 to $60.00 in a report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Monster Beverage presently has an average rating of "Hold" and a consensus price target of $61.91.

Monster Beverage Profile

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.