Commerzbank Aktiengesellschaft FI Buys 41,333 Shares of Monster Beverage Corporation $MNST

Key Points

• Commerzbank Aktiengesellschaft FI boosted its Monster Beverage stake by 34.1% in the fourth quarter, buying 41,333 additional shares and bringing its total holdings to 162,500 shares worth about $12.46 million.
• Monster Beverage reported better-than-expected quarterly results, with EPS of $0.58 versus $0.53 expected and revenue of $2.32 billion versus $2.16 billion expected; revenue rose 22.6% year over year.
• The company’s board authorized a $500 million share buyback, while analysts remain constructive overall with a consensus rating of Moderate Buy and a target price of $88.37.

Commerzbank Aktiengesellschaft FI increased its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 34.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,500 shares of the company's stock after buying an additional 41,333 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Monster Beverage were worth $12,459,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Wakefield Asset Management LLLP bought a new position in Monster Beverage in the fourth quarter worth about $4,008,000. Left Brain Wealth Management LLC increased its stake in shares of Monster Beverage by 0.6% during the fourth quarter. Left Brain Wealth Management LLC now owns 53,387 shares of the company's stock valued at $4,093,000 after purchasing an additional 337 shares in the last quarter. Phoenix Financial Ltd. increased its stake in shares of Monster Beverage by 20.7% during the fourth quarter. Phoenix Financial Ltd. now owns 5,626 shares of the company's stock valued at $431,000 after purchasing an additional 963 shares in the last quarter. Donoghue Forlines LLC bought a new position in shares of Monster Beverage during the fourth quarter valued at approximately $2,379,000. Finally, Fulcrum Asset Management LLP bought a new position in shares of Monster Beverage during the fourth quarter valued at approximately $1,427,000. 72.36% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Emelie Tirre sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.74, for a total transaction of $857,400.00. Following the sale, the insider owned 71,763 shares in the company, valued at $6,152,959.62. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Kelly sold 7,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total transaction of $614,670.00. Following the sale, the chief financial officer owned 62,553 shares in the company, valued at approximately $5,492,778.93. The trade was a 10.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,700 shares of company stock worth $13,730,462 over the last 90 days. 8.10% of the stock is currently owned by insiders.

Monster Beverage Stock Up 1.5%

NASDAQ:MNST opened at $87.09 on Friday. The company's 50 day moving average price is $76.55 and its 200-day moving average price is $76.59. Monster Beverage Corporation has a 52 week low of $58.09 and a 52 week high of $88.77. The stock has a market cap of $85.17 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 2.82 and a beta of 0.50.

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

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Rothschild & Co Redburn raised shares of Monster Beverage from a "neutral" rating to a "buy" rating and raised their target price for the company from $76.00 to $90.00 in a research note on Wednesday, May 6th. Evercore raised their target price on shares of Monster Beverage from $90.00 to $95.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Piper Sandler raised their target price on shares of Monster Beverage from $85.00 to $94.00 and gave the company an "overweight" rating in a research note on Friday, February 27th. Wall Street Zen downgraded shares of Monster Beverage from a "buy" rating to a "hold" rating in a research note on Monday, March 9th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 target price (up from $96.00) on shares of Monster Beverage in a research note on Sunday, May 10th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Monster Beverage currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.37.

Monster Beverage 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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