Cambridge Investment Research Advisors Inc. Buys 28,932 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Cambridge Investment Research Advisors Inc. increased its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 76.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,906 shares of the company's stock after acquiring an additional 28,932 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Monster Beverage were worth $3,915,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MNST. Norges Bank purchased a new stake in shares of Monster Beverage during the fourth quarter valued at about $442,642,000. CIBC Private Wealth Group LLC lifted its position in shares of Monster Beverage by 659.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock valued at $251,445,000 after buying an additional 4,231,063 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Monster Beverage by 5,095.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock valued at $179,267,000 after buying an additional 3,004,391 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in Monster Beverage in the 4th quarter valued at $121,575,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Monster Beverage in the 4th quarter valued at $110,942,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Monster Beverage

In other news, insider Emelie Tirre sold 8,796 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the transaction, the insider now directly owns 89,501 shares of the company's stock, 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 SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the transaction, the chief financial officer now directly owns 69,273 shares of the company's stock, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MNST. Truist Financial lifted their price target on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. Citigroup lifted their price target on Monster Beverage from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, April 14th. The Goldman Sachs Group lifted their price target on Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Morgan Stanley lifted their price target on Monster Beverage from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Finally, TD Cowen lifted their price target on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.05.

Monster Beverage Stock Performance

NASDAQ MNST opened at $61.71 on Friday. The company has a market cap of $60.18 billion, a P/E ratio of 40.60, a P/E/G ratio of 2.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.37 and a quick ratio of 2.78. The stock has a 50-day moving average of $61.95 and a two-hundred day moving average of $56.15. Monster Beverage Corporation has a 1-year low of $43.32 and a 1-year high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. Monster Beverage's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. As a group, analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

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.

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