Sowell Financial Services LLC Acquires New Position in Monster Beverage Corporation (NASDAQ:MNST)

Sowell Financial Services LLC acquired a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,742 shares of the company's stock, valued at approximately $336,000.

A number of other hedge funds have also recently modified their holdings of the company. CreativeOne Wealth LLC grew its holdings in shares of Monster Beverage by 1.9% in the fourth quarter. CreativeOne Wealth LLC now owns 11,838 shares of the company's stock valued at $622,000 after purchasing an additional 217 shares during the period. Level Four Advisory Services LLC grew its holdings in shares of Monster Beverage by 4.6% in the fourth quarter. Level Four Advisory Services LLC now owns 4,996 shares of the company's stock valued at $263,000 after purchasing an additional 220 shares during the period. Dogwood Wealth Management LLC grew its holdings in shares of Monster Beverage by 1.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 13,323 shares of the company's stock valued at $700,000 after purchasing an additional 233 shares during the period. PDS Planning Inc grew its holdings in shares of Monster Beverage by 5.7% in the fourth quarter. PDS Planning Inc now owns 4,340 shares of the company's stock valued at $228,000 after purchasing an additional 235 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in shares of Monster Beverage by 12.1% in the fourth quarter. Lindbrook Capital LLC now owns 2,314 shares of the company's stock valued at $122,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the sale, the chief financial officer now owns 69,273 shares of the company's stock, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Emelie Tirre sold 8,796 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 89,501 shares of the company's stock, valued at approximately $5,590,232.46. This trade represents 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.

Monster Beverage Stock Performance

Shares of MNST opened at $63.09 on Friday. The company has a current ratio of 3.37, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. The firm has a market cap of $61.53 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 2.24 and a beta of 0.60. The company's 50 day simple moving average is $61.53 and its 200-day simple moving average is $55.79. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm posted $0.42 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on MNST shares. CICC Research raised shares of Monster Beverage from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $56.00 to $65.00 in a research note on Monday, May 12th. Bank of America increased their target price on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Stifel Nicolaus started coverage on shares of Monster Beverage in a research report on Thursday, June 12th. They set a "buy" rating and a $72.00 price target on the stock. Truist Financial increased their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.05.

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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