Truist Financial Corp Has $1.38 Million Holdings in Celsius Holdings Inc. $CELH

Key Points

• Truist Financial Corp reduced its stake in Celsius Holdings Inc. by 33.0% in Q2 2023, owning 29,830 shares valued at approximately $1.38 million.
• Major shareholders, including William H. Milmoe and Deborah Desantis, each sold 100,000 shares at an average price of $47.50 on July 31st, totaling $4.75 million per transaction.
• Celsius reported a quarterly revenue of $739.3 million, exceeding analysts' expectations and showing an 83.9% year-over-year increase in revenue.

Truist Financial Corp lessened its stake in Celsius Holdings Inc. (NASDAQ:CELH - Free Report) by 33.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,830 shares of the company's stock after selling 14,703 shares during the quarter. Truist Financial Corp's holdings in Celsius were worth $1,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Westside Investment Management Inc. acquired a new position in shares of Celsius in the 1st quarter valued at approximately $32,000. Summit Securities Group LLC acquired a new position in Celsius during the first quarter valued at approximately $34,000. UMB Bank n.a. raised its position in Celsius by 145.0% during the first quarter. UMB Bank n.a. now owns 1,426 shares of the company's stock valued at $51,000 after purchasing an additional 844 shares in the last quarter. Fifth Third Bancorp raised its position in Celsius by 62.9% during the first quarter. Fifth Third Bancorp now owns 1,725 shares of the company's stock valued at $61,000 after purchasing an additional 666 shares in the last quarter. Finally, Peterson Wealth Services acquired a new position in Celsius during the first quarter valued at approximately $66,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Buying and Selling

In other Celsius news, major shareholder William H. Milmoe sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $47.50, for a total transaction of $4,750,000.00. Following the completion of the sale, the insider owned 17,717,770 shares of the company's stock, valued at approximately $841,594,075. This represents a 0.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Deborah Desantis sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $47.50, for a total transaction of $4,750,000.00. Following the sale, the insider directly owned 17,717,770 shares of the company's stock, valued at $841,594,075. This represents a 0.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 560,667 shares of company stock valued at $27,240,162. Corporate insiders own 2.55% of the company's stock.

Celsius Trading Down 5.5%

Shares of NASDAQ CELH opened at $60.70 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.76 and a current ratio of 2.11. Celsius Holdings Inc. has a 52-week low of $21.10 and a 52-week high of $64.81. The firm has a 50 day moving average price of $56.89 and a two-hundred day moving average price of $46.04. The stock has a market cap of $15.66 billion, a P/E ratio of 164.05, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38.

Celsius (NASDAQ:CELH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.24. The business had revenue of $739.30 million during the quarter, compared to the consensus estimate of $632.13 million. Celsius had a return on equity of 36.88% and a net margin of 7.91%.Celsius's quarterly revenue was up 83.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, equities analysts forecast that Celsius Holdings Inc. will post 0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CELH. Roth Capital reissued a "buy" rating on shares of Celsius in a report on Thursday, October 2nd. Jefferies Financial Group set a $72.00 target price on Celsius and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Maxim Group boosted their target price on Celsius from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Needham & Company LLC boosted their target price on Celsius from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Truist Financial upped their price objective on shares of Celsius from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Nineteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $63.15.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.

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