Procyon Advisors LLC Has $6.79 Million Position in Monster Beverage Co. (NASDAQ:MNST)

Procyon Advisors LLC boosted its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 10.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,944 shares of the company's stock after acquiring an additional 11,396 shares during the quarter. Procyon Advisors LLC's holdings in Monster Beverage were worth $6,785,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Monster Beverage by 62.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after buying an additional 203 shares in the last quarter. Spire Wealth Management bought a new position in Monster Beverage in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new position in Monster Beverage during the fourth quarter worth about $31,000. Coppell Advisory Solutions LLC raised its stake in Monster Beverage by 259.2% during the fourth quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock worth $36,000 after acquiring an additional 495 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Monster Beverage in the fourth quarter worth about $36,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the stock in a transaction that occurred 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 transaction, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 48,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $54.89, for a total value of $2,634,720.00. Following the sale, the director now owns 296,846 shares of the company's stock, valued at approximately $16,293,876.94. This represents a 13.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,796 shares of company stock worth $8,688,558 in the last quarter. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Stock Down 0.3%

Shares of NASDAQ MNST opened at $63.00 on Friday. The company's 50 day moving average price is $60.32 and its 200-day moving average price is $55.13. 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 52-week low of $43.32 and a 52-week high of $64.45. The company has a market capitalization of $61.44 billion, a P/E ratio of 40.38, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. Monster Beverage's revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MNST. Citigroup lifted their price target on shares of Monster Beverage from $64.00 to $70.00 and gave the company a "buy" rating in a report on Monday, April 14th. Roth Capital upped their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Wells Fargo & Company increased their price target on Monster Beverage from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. raised their price objective on Monster Beverage from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Monster Beverage in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.81.

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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