Monster Beverage Corporation (NASDAQ:MNST) Stake Increased by Argentarii LLC

Argentarii LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 174.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,031 shares of the company's stock after buying an additional 8,920 shares during the period. Argentarii LLC's holdings in Monster Beverage were worth $821,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Wayfinding Financial LLC purchased a new position in shares of Monster Beverage in the 1st quarter valued at $29,000. IFM Investors Pty Ltd boosted its stake in Monster Beverage by 9.7% during the 1st quarter. IFM Investors Pty Ltd now owns 151,953 shares of the company's stock worth $8,892,000 after purchasing an additional 13,402 shares during the period. GF Fund Management CO. LTD. boosted its stake in Monster Beverage by 1.8% during the 1st quarter. GF Fund Management CO. LTD. now owns 187,707 shares of the company's stock worth $10,985,000 after purchasing an additional 3,393 shares during the period. Calamos Advisors LLC boosted its stake in Monster Beverage by 1.1% during the 1st quarter. Calamos Advisors LLC now owns 186,564 shares of the company's stock worth $10,918,000 after purchasing an additional 2,078 shares during the period. Finally, Conning Inc. boosted its stake in Monster Beverage by 3.9% during the 1st quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after purchasing an additional 219 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Down 0.4%

Monster Beverage stock traded down $0.23 during trading on Monday, reaching $62.85. The company had a trading volume of 4,267,497 shares, compared to its average volume of 5,992,142. The stock's 50 day moving average price is $62.36 and its two-hundred day moving average price is $56.55. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. The firm has a market capitalization of $61.29 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 2.23 and a beta of 0.59.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results 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 business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Truist Financial raised their target price 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. UBS Group raised their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. TD Cowen raised their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group raised their price objective on shares of Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.05.

Insiders Place Their Bets

In related 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 value of $549,398.16. Following the completion of the sale, the insider owned 89,501 shares in the company, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the chief financial officer 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 position. The disclosure for this sale can be found here. Insiders own 7.80% of the company's stock.

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.