New Age Alpha Advisors LLC Makes New Investment in Monster Beverage Corporation (NASDAQ:MNST)

New Age Alpha Advisors LLC purchased a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 40,974 shares of the company's stock, valued at approximately $2,398,000.

Other hedge funds also recently modified their holdings of the company. Peapack Gladstone Financial Corp lifted its stake in shares of Monster Beverage by 67.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 10,168 shares of the company's stock worth $534,000 after acquiring an additional 4,104 shares during the period. Federated Hermes Inc. boosted its stake in shares of Monster Beverage by 37.9% in the 4th quarter. Federated Hermes Inc. now owns 5,094 shares of the company's stock valued at $268,000 after purchasing an additional 1,399 shares during the last quarter. Cerity Partners LLC increased its position in shares of Monster Beverage by 1.1% during the fourth quarter. Cerity Partners LLC now owns 540,833 shares of the company's stock worth $28,414,000 after buying an additional 5,895 shares during the period. Invesco Ltd. raised its stake in Monster Beverage by 9.3% during the fourth quarter. Invesco Ltd. now owns 8,590,994 shares of the company's stock worth $451,543,000 after buying an additional 734,406 shares during the last quarter. Finally, Twin Capital Management Inc. acquired a new position in Monster Beverage in the fourth quarter valued at $246,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Buying and Selling at Monster Beverage

In other news, insider Emelie Tirre sold 8,796 shares of the 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 directly owned 89,501 shares of the company's stock, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by insiders.

Monster Beverage Stock Up 0.7%

Shares of NASDAQ MNST opened at $59.48 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.37 and a quick ratio of 2.78. The stock has a market capitalization of $58.00 billion, a PE ratio of 39.13, a P/E/G ratio of 2.15 and a beta of 0.55. Monster Beverage Corporation has a one year low of $43.32 and a one year high of $64.45. The business's fifty day moving average price is $61.58 and its 200-day moving average price is $57.81.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the business earned $0.42 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analyst Upgrades and Downgrades

MNST has been the subject of several research analyst reports. Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. Roth Mkm raised their price objective on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Jefferies Financial Group boosted their target price on shares of Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Wells Fargo & Company raised their price target on shares of Monster Beverage from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, June 13th. Finally, The Goldman Sachs Group upped their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a report on Friday, June 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $61.91.

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.

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