Fifth Third Bancorp Grows Position in Monster Beverage Co. (NASDAQ:MNST)

Fifth Third Bancorp raised its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,348 shares of the company's stock after acquiring an additional 13,776 shares during the quarter. Fifth Third Bancorp's holdings in Monster Beverage were worth $15,587,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its position in Monster Beverage by 7.9% during the 4th quarter. Apollon Wealth Management LLC now owns 14,496 shares of the company's stock valued at $762,000 after purchasing an additional 1,067 shares during the period. Empowered Funds LLC grew its position in shares of Monster Beverage by 5.5% during the 4th quarter. Empowered Funds LLC now owns 26,293 shares of the company's stock worth $1,382,000 after buying an additional 1,372 shares during the period. Entropy Technologies LP bought a new position in shares of Monster Beverage in the 4th quarter worth $301,000. Kestra Private Wealth Services LLC lifted its holdings in shares of Monster Beverage by 11.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,592 shares of the company's stock worth $820,000 after purchasing an additional 1,630 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in shares of Monster Beverage by 127.7% in the 4th quarter. Quent Capital LLC now owns 1,380 shares of the company's stock worth $73,000 after purchasing an additional 774 shares in the last quarter. Institutional investors own 72.36% of the company's stock.

Insider Activity at Monster Beverage

In other news, CFO Thomas J. Kelly sold 27,000 shares of the 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Emelie Tirre sold 8,796 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the completion of the sale, the insider now directly owns 89,501 shares in the company, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MNST has been the topic of several recent analyst reports. UBS Group raised their price objective on Monster Beverage from $62.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Roth Capital boosted their price objective on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Truist Financial boosted their price objective on Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Monster Beverage in a report on Friday, February 28th. Finally, TD Cowen lifted their target price on Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.05.

Monster Beverage Price Performance

MNST traded down $0.63 during midday trading on Friday, hitting $63.06. The stock had a trading volume of 6,155,824 shares, compared to its average volume of 6,090,870. 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 1 year low of $43.32 and a 1 year high of $64.45. The business has a fifty day moving average of $60.95 and a 200 day moving average of $55.50. The company has a market cap of $61.50 billion, a P/E ratio of 40.42, a price-to-earnings-growth ratio of 2.28 and a beta of 0.60.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data 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 firm 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 23.31% and a net margin of 21.66%. The business's revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, equities analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Monster Beverage Company 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.