PAX Financial Group LLC Takes Position in Monster Beverage Corporation (NASDAQ:MNST)

PAX Financial Group LLC bought a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,020 shares of the company's stock, valued at approximately $586,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Monster Beverage during the 1st quarter worth about $29,000. Coppell Advisory Solutions LLC lifted its position in Monster Beverage by 259.2% during the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock worth $36,000 after acquiring an additional 495 shares during the period. Park Square Financial Group LLC acquired a new stake in Monster Beverage during the 4th quarter worth about $36,000. CVA Family Office LLC lifted its position in Monster Beverage by 28.6% during the 1st quarter. CVA Family Office LLC now owns 1,519 shares of the company's stock worth $89,000 after acquiring an additional 338 shares during the period. Finally, Menard Financial Group LLC acquired a new stake in Monster Beverage during the 4th quarter worth about $101,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was 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 owned 69,273 shares of the company's stock, valued at $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Emelie Tirre sold 8,796 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $62.46, for a total value of $549,398.16. Following the transaction, the insider directly owned 89,501 shares of the company's stock, valued at $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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on MNST. Morgan Stanley lifted their price target on Monster Beverage from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Rothschild & Co Redburn cut Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target for the company. in a research report on Wednesday, July 9th. Citigroup lifted their price target on Monster Beverage from $64.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. CICC Research raised Monster Beverage from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $56.00 to $65.00 in a report on Monday, May 12th. Finally, Truist Financial boosted their price objective on Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $61.91.

Monster Beverage Price Performance

NASDAQ MNST traded up $0.46 during trading hours on Friday, reaching $59.55. The company's stock had a trading volume of 1,269,571 shares, compared to its average volume of 5,989,109. The firm has a market capitalization of $58.07 billion, a price-to-earnings ratio of 39.20, a P/E/G ratio of 2.09 and a beta of 0.59. Monster Beverage Corporation has a 1-year low of $43.32 and a 1-year high of $64.45. 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 company's 50-day moving average is $62.35 and its two-hundred day moving average is $56.96.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly 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. The company had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. Monster Beverage's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, equities analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current 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.