Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 46.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,727 shares of the company's stock after purchasing an additional 6,531 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Monster Beverage were worth $1,213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MNST. Geneos Wealth Management Inc. acquired a new position in shares of Monster Beverage during the 4th quarter worth approximately $33,000. Foundations Investment Advisors LLC purchased a new stake in shares of Monster Beverage during the 4th quarter valued at approximately $209,000. Swedbank AB raised its position in shares of Monster Beverage by 25.2% during the 4th quarter. Swedbank AB now owns 152,419 shares of the company's stock valued at $8,011,000 after buying an additional 30,688 shares during the period. Caprock Group LLC raised its position in shares of Monster Beverage by 15.6% during the 4th quarter. Caprock Group LLC now owns 16,255 shares of the company's stock valued at $854,000 after buying an additional 2,198 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in shares of Monster Beverage by 7.9% during the 4th quarter. Chicago Partners Investment Group LLC now owns 4,319 shares of the company's stock valued at $223,000 after buying an additional 317 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Down 0.3%

Shares of NASDAQ:MNST traded down $0.16 during trading on Thursday, hitting $63.00. The company's stock had a trading volume of 4,742,965 shares, compared to its average volume of 6,496,700. The business has a 50 day moving average price of $60.32 and a two-hundred day moving average price of $55.13. The company has a market capitalization of $61.44 billion, a PE ratio of 40.38, a P/E/G ratio of 2.28 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued 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. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The company's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. As a group, research analysts expect that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas J. Kelly sold 27,000 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction 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 approximately $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark J. Hall sold 12,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $54.50, for a total transaction of $654,000.00. Following the completion of the transaction, the director now owns 296,846 shares of the company's stock, valued at $16,178,107. This represents a 3.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,796 shares of company stock worth $8,688,558. Corporate insiders own 8.30% of the company's stock.

Wall Street Analyst Weigh In

MNST has been the topic of several analyst reports. The Goldman Sachs Group set a $67.00 price target on shares of Monster Beverage and gave the company a "buy" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of Monster Beverage from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Wells Fargo & Company lifted their price target on shares of Monster Beverage from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Piper Sandler lifted their price target on shares of Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, TD Cowen lifted their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $60.81.

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.