Williamson Legacy Group LLC Buys New Shares in Monster Beverage Corporation $MNST

Key Points

• Williamson Legacy Group LLC opened a new position in Monster Beverage in the fourth quarter, buying 14,858 shares worth about $1.14 million.
• Monster Beverage reported better-than-expected quarterly results, with EPS of $0.58 versus $0.53 expected and revenue of $2.32 billion, up 22.6% from a year earlier.
• The company also announced a $500 million share repurchase program, while several analysts remain positive and the stock is trading near its 52-week high.

Williamson Legacy Group LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,858 shares of the company's stock, valued at approximately $1,139,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. grew its position in Monster Beverage by 508.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company's stock worth $25,000 after purchasing an additional 315 shares during the period. Harbor Investment Advisory LLC grew its position in Monster Beverage by 136.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company's stock worth $27,000 after purchasing an additional 205 shares during the period. Newbridge Financial Services Group Inc. grew its position in Monster Beverage by 1,338.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company's stock worth $28,000 after purchasing an additional 415 shares during the period. Triumph Capital Management acquired a new stake in Monster Beverage during the 3rd quarter worth about $36,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Monster Beverage during the 3rd quarter worth about $42,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Up 0.7%

Shares of Monster Beverage stock opened at $87.42 on Wednesday. Monster Beverage Corporation has a twelve month low of $58.09 and a twelve month high of $88.77. The firm has a market capitalization of $85.50 billion, a PE ratio of 42.23, a P/E/G ratio of 2.86 and a beta of 0.50. The firm's 50-day moving average price is $78.00 and its 200 day moving average price is $77.62.

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

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

Insider Buying and Selling

In related news, insider Emelie Tirre sold 10,000 shares of Monster Beverage stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.74, for a total value of $857,400.00. Following the sale, the insider directly owned 71,763 shares in the company, valued at approximately $6,152,959.62. The trade was a 12.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 54,000 shares of Monster Beverage stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the completion of 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 ownership of the stock. 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 worth $13,730,462. Insiders own 8.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Monster Beverage from a "buy" rating to a "hold" rating in a research report on Monday, March 9th. Wells Fargo & Company increased their target price on shares of Monster Beverage from $87.00 to $97.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Rothschild & Co Redburn raised shares of Monster Beverage from a "neutral" rating to a "buy" rating and increased their target price for the stock from $76.00 to $90.00 in a research note on Wednesday, May 6th. Citigroup increased their target price on shares of Monster Beverage from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Finally, Argus increased their target price on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.89.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.