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

Procyon Advisors LLC raised its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,944 shares of the company's stock after purchasing an additional 11,396 shares during the quarter. Procyon Advisors LLC's holdings in Monster Beverage were worth $6,785,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Chicago Partners Investment Group LLC raised its position in shares of Monster Beverage by 7.9% during the fourth quarter. Chicago Partners Investment Group LLC now owns 4,319 shares of the company's stock worth $223,000 after acquiring an additional 317 shares during the last quarter. Spire Wealth Management acquired a new stake in Monster Beverage in the fourth quarter worth about $29,000. Trust Point Inc. increased its position in Monster Beverage by 17.8% in the fourth quarter. Trust Point Inc. now owns 9,490 shares of the company's stock worth $499,000 after purchasing an additional 1,434 shares during the period. Mather Group LLC. increased its position in Monster Beverage by 7.6% in the fourth quarter. Mather Group LLC. now owns 6,931 shares of the company's stock worth $364,000 after purchasing an additional 491 shares during the period. Finally, Choreo LLC increased its position in Monster Beverage by 11.6% in the fourth quarter. Choreo LLC now owns 16,451 shares of the company's stock worth $864,000 after purchasing an additional 1,715 shares during the period. Institutional investors own 72.36% of the company's stock.

Insider Transactions at Monster Beverage

In other news, insider Guy Carling sold 47,000 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $55.02, for a total transaction of $2,585,940.00. Following the completion of the transaction, the insider now directly owns 21,993 shares of the company's stock, valued at $1,210,054.86. This represents a 68.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Emelie Tirre sold 8,796 shares of the company's stock in a transaction dated 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 directly owns 89,501 shares of the company's stock, valued at $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. Insiders sold 152,796 shares of company stock valued at $8,688,558 over the last three months. Company insiders own 8.30% of the company's stock.

Monster Beverage Stock Down 0.6%

Shares of NASDAQ:MNST traded down $0.41 during trading on Monday, hitting $63.00. 4,263,438 shares of the company's stock traded hands, compared to its average volume of 6,314,157. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $64.45. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The company has a market cap of $61.44 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 2.28 and a beta of 0.60. The company has a 50-day moving average price of $60.41 and a 200-day moving average price of $55.22.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 23.31% and a net margin of 21.66%. Monster Beverage's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, research analysts forecast that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Roth Capital lifted their price objective on Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Wells Fargo & Company lifted their price objective on Monster Beverage from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. TD Cowen lifted their price objective on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. Finally, Roth Mkm lifted their price objective on Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $60.81.

About Monster Beverage

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.