Soltis Investment Advisors LLC Takes $3.37 Million Position in Monster Beverage Corporation $MNST

Key Points

• Soltis Investment Advisors opened a new position in Monster Beverage, buying 43,893 shares worth about $3.37 million in the fourth quarter.
• Monster Beverage reported strong quarterly results, with EPS of $0.58 and revenue of $2.32 billion, both above analyst estimates; revenue also rose 22.6% year over year.
• The company also announced a $500 million share repurchase program, even as some insiders recently sold stock and Wall Street maintained a generally positive view with a Moderate Buy consensus rating.

Soltis Investment Advisors LLC acquired a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 43,893 shares of the company's stock, valued at approximately $3,365,000.

Several other institutional investors have also modified their holdings of the stock. iA Global Asset Management Inc. lifted its stake in shares of Monster Beverage by 1.3% in the 4th quarter. iA Global Asset Management Inc. now owns 174,431 shares of the company's stock valued at $13,374,000 after purchasing an additional 2,255 shares during the last quarter. May Hill Capital LLC bought a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $329,000. Beese Fulmer Investment Management Inc. bought a new stake in shares of Monster Beverage during the 4th quarter worth approximately $391,000. Canada Post Corp Registered Pension Plan lifted its stake in shares of Monster Beverage by 52.7% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 21,104 shares of the company's stock worth $1,618,000 after acquiring an additional 7,280 shares during the last quarter. Finally, AlphaCore Capital LLC lifted its stake in shares of Monster Beverage by 28.3% during the 4th quarter. AlphaCore Capital LLC now owns 5,098 shares of the company's stock worth $391,000 after acquiring an additional 1,126 shares during the last quarter. 72.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of research analyst reports. Bank of America decreased their price target on Monster Beverage from $100.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Stifel Nicolaus dropped their price target on Monster Beverage from $92.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Evercore increased their price target on Monster Beverage from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft increased their price target on Monster Beverage from $88.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Wall Street Zen downgraded Monster Beverage from a "buy" rating to a "hold" rating in a report on Monday, March 9th. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Monster Beverage has an average rating of "Moderate Buy" and a consensus price target of $88.37.

Monster Beverage Stock Performance

Monster Beverage stock opened at $87.09 on Friday. The business's 50-day simple moving average is $76.55 and its two-hundred day simple moving average is $76.59. The company has a market cap of $85.17 billion, a PE ratio of 42.07, a PEG ratio of 2.87 and a beta of 0.50. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $88.77.

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, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The company's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. As a group, analysts predict that Monster Beverage Corporation will post 2.31 EPS for the current fiscal year.

Monster Beverage declared that its Board of Directors has initiated a stock buyback plan on Friday, May 15th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 0.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 7,000 shares of the business's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total transaction of $614,670.00. Following the sale, the chief financial officer owned 62,553 shares in the company, valued at approximately $5,492,778.93. The trade was a 10.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark J. Hall sold 54,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $85.81, for a total value of $4,633,740.00. Following the sale, the director owned 299,246 shares in the company, valued at approximately $25,678,299.26. The trade was a 15.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 159,700 shares of company stock worth $13,730,462. 8.10% of the stock is currently owned by insiders.

Monster Beverage Company Profile

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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