Monster Beverage Co. (NASDAQ:MNST) Stock Position Increased by Annex Advisory Services LLC

Annex Advisory Services LLC lifted its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 7.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 104,886 shares of the company's stock after buying an additional 6,896 shares during the period. Annex Advisory Services LLC's holdings in Monster Beverage were worth $6,138,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp lifted its stake in shares of Monster Beverage by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company's stock valued at $8,101,000 after buying an additional 7,780 shares during the period. Alliance Wealth Advisors LLC UT purchased a new position in shares of Monster Beverage during the fourth quarter valued at approximately $423,000. Empower Advisory Group LLC raised its stake in Monster Beverage by 6.5% during the fourth quarter. Empower Advisory Group LLC now owns 1,262,180 shares of the company's stock worth $66,340,000 after purchasing an additional 77,278 shares during the period. Elevate Capital Advisors LLC purchased a new position in Monster Beverage during the fourth quarter worth approximately $1,624,000. Finally, iA Global Asset Management Inc. raised its stake in Monster Beverage by 5.8% during the fourth quarter. iA Global Asset Management Inc. now owns 113,866 shares of the company's stock worth $5,985,000 after purchasing an additional 6,210 shares during the period. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insiders Place Their Bets

In other news, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the transaction, the chief financial officer now directly owns 72,273 shares of the company's stock, valued at approximately $3,994,528.71. The trade was a 12.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 48,000 shares of Monster Beverage stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $54.89, for a total transaction of $2,634,720.00. Following the completion of the transaction, the director now directly owns 296,846 shares of the company's stock, valued at $16,293,876.94. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,796 shares of company stock valued at $8,688,558 in the last ninety days. Corporate insiders own 8.30% of the company's stock.

Monster Beverage Stock Up 0.7%

Monster Beverage stock traded up $0.41 during midday trading on Friday, hitting $63.41. 3,690,556 shares of the stock were exchanged, compared to its average volume of 6,322,389. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $64.45. The firm has a market cap of $61.84 billion, a P/E ratio of 40.65, a P/E/G ratio of 2.28 and a beta of 0.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The company has a 50 day moving average price of $60.41 and a two-hundred day moving average price of $55.22.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. On average, sell-side analysts predict that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Monster Beverage from $65.00 to $67.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group increased their price target on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Truist Financial increased their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research note on Wednesday, April 23rd. Piper Sandler raised their target price on shares of Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Monster Beverage from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.81.

About Monster Beverage

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.