ProShare Advisors LLC Has $126.45 Million Stock Holdings in Monster Beverage Corporation $MNST

ProShare Advisors LLC boosted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 39.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,649,282 shares of the company's stock after buying an additional 470,572 shares during the quarter. ProShare Advisors LLC owned approximately 0.17% of Monster Beverage worth $126,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Advisory Group Advisory Services LLC lifted its holdings in Monster Beverage by 2.8% during the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 4,841 shares of the company's stock worth $371,000 after buying an additional 133 shares during the period. D.A. Davidson & CO. lifted its holdings in Monster Beverage by 3.6% during the 4th quarter. D.A. Davidson & CO. now owns 4,071 shares of the company's stock worth $312,000 after buying an additional 141 shares during the period. Earned Wealth Advisors LLC lifted its holdings in Monster Beverage by 3.8% during the 4th quarter. Earned Wealth Advisors LLC now owns 4,171 shares of the company's stock worth $320,000 after buying an additional 151 shares during the period. Sage Mountain Advisors LLC lifted its holdings in Monster Beverage by 1.4% during the 4th quarter. Sage Mountain Advisors LLC now owns 11,123 shares of the company's stock worth $853,000 after buying an additional 154 shares during the period. Finally, Premier Path Wealth Partners LLC lifted its holdings in Monster Beverage by 3.2% during the 3rd quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company's stock worth $353,000 after buying an additional 161 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

MNST stock opened at $86.35 on Wednesday. The stock's 50 day simple moving average is $77.00 and its 200 day simple moving average is $76.92. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $88.77. The company has a market cap of $84.45 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 2.91 and a beta of 0.50.

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

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

Insider Buying and Selling

In other Monster Beverage news, CFO Thomas J. Kelly sold 7,000 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total transaction of $614,670.00. Following the transaction, the chief financial officer owned 62,553 shares in the company, valued at approximately $5,492,778.93. This represents a 10.06% decrease in their ownership of the stock. The transaction 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 on Wednesday, May 13th. The stock was sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the transaction, the insider owned 81,763 shares in the company, valued at approximately $7,028,347.48. The trade was 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 have sold 159,700 shares of company stock valued at $13,730,462. 8.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MNST shares. UBS Group restated a "neutral" rating and issued a $84.00 price target (up from $80.00) on shares of Monster Beverage in a research report on Friday, May 8th. Stifel Nicolaus dropped their price target on shares of Monster Beverage from $92.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Bank of America dropped their price objective on Monster Beverage from $100.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Monster Beverage from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Monster Beverage from $81.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.89.

About Monster Beverage

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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