Exchange Traded Concepts LLC Grows Holdings in Monster Beverage Corporation (NASDAQ:MNST)

Exchange Traded Concepts LLC raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 142.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,643 shares of the company's stock after purchasing an additional 9,181 shares during the quarter. Exchange Traded Concepts LLC's holdings in Monster Beverage were worth $915,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MNST. Allworth Financial LP boosted its position in Monster Beverage by 22.5% in the 4th quarter. Allworth Financial LP now owns 5,179 shares of the company's stock valued at $255,000 after buying an additional 951 shares during the period. Venturi Wealth Management LLC increased its position in shares of Monster Beverage by 22.1% during the fourth quarter. Venturi Wealth Management LLC now owns 5,941 shares of the company's stock worth $312,000 after acquiring an additional 1,077 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of Monster Beverage by 22.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 12,454 shares of the company's stock valued at $655,000 after acquiring an additional 2,317 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $124,000. Finally, Cumberland Partners Ltd purchased a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $1,776,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Monster Beverage from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Monster Beverage from $60.00 to $61.00 and gave the company a "buy" rating in a report on Friday, February 28th. Bank of America increased their target price on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Wells Fargo & Company boosted their price target on shares of Monster Beverage from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, June 13th. Finally, Stifel Nicolaus started coverage on shares of Monster Beverage in a research note on Thursday, June 12th. They set a "buy" rating and a $72.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $62.05.

Insider Buying and Selling

In related news, CFO Thomas J. Kelly sold 27,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 69,273 shares in the company, valued at $4,391,908.20. This trade represents a 28.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Emelie Tirre sold 8,796 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $62.46, for a total value of $549,398.16. Following the sale, the insider now owns 89,501 shares in the company, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is owned by company insiders.

Monster Beverage Stock Up 0.7%

Shares of MNST stock opened at $63.19 on Friday. The stock's fifty day moving average price is $61.43 and its 200 day moving average price is $55.73. Monster Beverage Corporation has a 1-year low of $43.32 and a 1-year high of $64.45. The company has a market cap of $61.63 billion, a price-to-earnings ratio of 41.57, a price-to-earnings-growth ratio of 2.24 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.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results 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. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the company earned $0.42 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

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.

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