Monster Beverage Corporation $MNST Shares Purchased by Cumberland Partners Ltd

Key Points

• Cumberland Partners Ltd increased its stake in Monster Beverage by 46% in the fourth quarter, buying 22,000 more shares and bringing its total holding to 69,782 shares worth about $5.35 million.
• Monster Beverage reported better-than-expected quarterly results, with EPS of $0.58 versus estimates of $0.53 and revenue of $2.32 billion versus expectations of $2.16 billion. Revenue rose 22.6% year over year.
• The company also announced a $500 million share buyback program, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average target price of $88.89.

Cumberland Partners Ltd increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 46.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,782 shares of the company's stock after buying an additional 22,000 shares during the quarter. Cumberland Partners Ltd's holdings in Monster Beverage were worth $5,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MNST. Jones Financial Companies Lllp grew its stake in shares of Monster Beverage by 397.9% in the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company's stock valued at $890,000 after buying an additional 12,148 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Monster Beverage by 247.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company's stock worth $813,000 after acquiring an additional 9,251 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of Monster Beverage by 23.9% during the 2nd quarter. Cresset Asset Management LLC now owns 6,652 shares of the company's stock worth $417,000 after acquiring an additional 1,281 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Monster Beverage by 55.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,798 shares of the company's stock worth $301,000 after acquiring an additional 1,721 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Monster Beverage by 151.7% during the 2nd quarter. NewEdge Advisors LLC now owns 34,075 shares of the company's stock worth $2,134,000 after acquiring an additional 20,538 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Trading Up 0.5%

Shares of MNST stock opened at $86.79 on Friday. The company has a market cap of $84.88 billion, a price-to-earnings ratio of 41.93, a price-to-earnings-growth ratio of 2.84 and a beta of 0.50. The stock has a 50 day simple moving average of $77.60 and a 200-day simple moving average of $77.26. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $88.77.

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

Monster Beverage announced that its board has approved a share buyback program on Friday, May 15th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MNST. Jefferies Financial Group set a $100.00 target price on Monster Beverage in a report on Wednesday, March 11th. Argus boosted their price target on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Piper Sandler boosted their price target on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Wells Fargo & Company boosted their price target on shares of Monster Beverage from $87.00 to $97.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Finally, TD Cowen dropped their price target on shares of Monster Beverage from $88.00 to $80.00 and set a "hold" rating on the stock in a research note on Monday, April 20th. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.89.

Insider Transactions at Monster Beverage

In other news, CFO Thomas J. Kelly sold 7,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total transaction of $614,670.00. Following the completion of the transaction, the chief financial officer directly owned 62,553 shares of the company's stock, valued at approximately $5,492,778.93. This represents a 10.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Emelie Tirre sold 88,700 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $85.96, for a total value of $7,624,652.00. Following the completion of the sale, the insider owned 81,763 shares in the company, valued at approximately $7,028,347.48. This represents a 52.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 159,700 shares of company stock valued at $13,730,462. Corporate insiders own 8.10% of the company's stock.

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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