73,333 Shares in Monster Beverage Corporation $MNST Acquired by OP Asset Management Ltd

Key Points

• OP Asset Management Ltd bought a new position in Monster Beverage, acquiring 73,333 shares valued at about $5.3 million in the first quarter.
• Monster Beverage reported better-than-expected quarterly results, with EPS of $0.58 versus the $0.53 estimate and revenue of $2.32 billion, up 22.6% year over year.
• The company’s board also approved a $500 million stock buyback program, while analysts currently rate the stock a Moderate Buy with a consensus target price of $89.35.

OP Asset Management Ltd purchased a new position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 73,333 shares of the company's stock, valued at approximately $5,314,000.

A number of other institutional investors have also added to or reduced their stakes in MNST. Harbor Investment Advisory LLC boosted its position 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 worth $27,000 after acquiring an additional 205 shares during the last quarter. MV Capital Management Inc. bought a new stake in Monster Beverage in the 4th quarter valued at $30,000. Newbridge Financial Services Group Inc. increased its holdings in 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 in the 4th quarter worth $35,000. Finally, Miller Capital Partners Inc. purchased a new stake in Monster Beverage in the 4th quarter worth $36,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Guy Carling sold 19,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $90.90, for a total transaction of $1,727,100.00. Following the sale, the chief executive officer owned 21,863 shares in the company, valued at approximately $1,987,346.70. This represents a 46.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Kelly sold 7,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was 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 owned 62,553 shares of the company's stock, valued at approximately $5,492,778.93. This represents a 10.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 178,700 shares of company stock valued at $15,457,562 over the last quarter. Company insiders own 8.10% of the company's stock.

Monster Beverage Trading Up 0.6%

Shares of NASDAQ MNST opened at $96.38 on Friday. The firm's 50-day moving average price is $85.97 and its 200-day moving average price is $80.58. The stock has a market capitalization of $94.26 billion, a price-to-earnings ratio of 46.56, a P/E/G ratio of 3.15 and a beta of 0.54. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $97.87.

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

Monster Beverage announced that its board has initiated a stock buyback program on Friday, May 15th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 0.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MNST. Wall Street Zen lowered Monster Beverage from a "buy" rating to a "hold" rating in a research report on Monday, March 9th. Wells Fargo & Company increased their price target on Monster Beverage from $87.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Piper Sandler raised their price target on Monster Beverage from $85.00 to $94.00 and gave the company an "overweight" rating in a report on Friday, February 27th. Stifel Nicolaus cut their price target on Monster Beverage from $92.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Finally, UBS Group reaffirmed a "neutral" rating and issued a $84.00 price objective (up from $80.00) on shares of Monster Beverage in a research note on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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