Corient Private Wealth LLC Boosts Stake in Monster Beverage Corporation $MNST

Key Points

• Corient Private Wealth LLC increased its Monster Beverage stake by 25.1% in the fourth quarter, buying 97,721 additional shares and bringing its total holdings to 486,695 shares worth about $37.4 million.
• Monster Beverage reported stronger-than-expected quarterly results, with EPS of $0.58 versus $0.53 expected and revenue of $2.32 billion, up 22.6% year over year.
• The company launched a $500 million stock buyback program, while analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $89.35.

Corient Private Wealth LLC boosted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 25.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 486,695 shares of the company's stock after purchasing an additional 97,721 shares during the period. Corient Private Wealth LLC's holdings in Monster Beverage were worth $37,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MNST. Hsbc Holdings PLC lifted its stake in Monster Beverage by 6.5% during the fourth quarter. Hsbc Holdings PLC now owns 1,236,988 shares of the company's stock worth $94,887,000 after purchasing an additional 75,535 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Monster Beverage by 32.5% in the fourth quarter. Rehmann Capital Advisory Group now owns 8,882 shares of the company's stock valued at $683,000 after buying an additional 2,181 shares in the last quarter. S Harris Financial Group LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at $204,000. WMS Group LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at $1,107,000. Finally, Reflection Asset Management purchased a new stake in shares of Monster Beverage in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Transactions at Monster Beverage

In other news, CEO Guy Carling sold 19,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $90.90, for a total transaction of $1,727,100.00. Following the transaction, the chief executive officer directly owned 21,863 shares in the company, valued at approximately $1,987,346.70. This trade represents a 46.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark J. Hall sold 54,000 shares of Monster Beverage stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the completion of the transaction, the director directly owned 299,246 shares in the company, valued at $25,678,299.26. The trade was a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 178,700 shares of company stock worth $15,457,562 in the last three months. Corporate insiders own 8.10% of the company's stock.

Monster Beverage Price Performance

MNST stock opened at $91.34 on Monday. The business's 50-day moving average is $84.04 and its two-hundred day moving average is $79.90. The firm has a market capitalization of $89.33 billion, a P/E ratio of 44.13, a P/E/G ratio of 3.01 and a beta of 0.54. Monster Beverage Corporation has a 1 year low of $58.09 and a 1 year high of $93.92.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous 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. On average, analysts expect that Monster Beverage Corporation will post 2.31 EPS for the current year.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Sanford C. Bernstein assumed coverage on Monster Beverage in a report on Friday, June 12th. They set a "market perform" rating and a $95.00 target price for the company. Royal Bank Of Canada raised their price objective on shares of Monster Beverage from $86.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Bank of America cut their target price on shares of Monster Beverage from $100.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. TD Cowen reduced their target price on shares of Monster Beverage from $88.00 to $80.00 and set a "hold" rating on the stock in a report on Monday, April 20th. Finally, Citigroup raised their price target on shares of Monster Beverage from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Monster Beverage currently has a consensus rating of "Moderate Buy" and an average 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.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.