Xponance LLC Has $19.93 Million Stock Holdings in Monster Beverage Corporation $MNST

Key Points

• Xponance LLC reduced its Monster Beverage stake by 4.2% in the fourth quarter, leaving it with 259,884 shares valued at about $19.93 million.
• Monster Beverage reported strong quarterly results, with EPS of $0.58 beating estimates and revenue of $2.32 billion topping forecasts, while revenue rose 22.6% year over year.
• The company also announced a $500 million share buyback, even as insiders sold shares and analysts remained broadly positive with a consensus rating of Moderate Buy.

Xponance LLC cut its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,884 shares of the company's stock after selling 11,367 shares during the period. Xponance LLC's holdings in Monster Beverage were worth $19,925,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Capital Advisory Group Advisory Services LLC raised its holdings in shares of 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 in the last quarter. D.A. Davidson & CO. raised its holdings in shares of 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 in the last quarter. Earned Wealth Advisors LLC increased its holdings in Monster Beverage by 3.8% in the 4th quarter. Earned Wealth Advisors LLC now owns 4,171 shares of the company's stock worth $320,000 after purchasing an additional 151 shares in the last quarter. Sage Mountain Advisors LLC increased its holdings in Monster Beverage by 1.4% in the 4th quarter. Sage Mountain Advisors LLC now owns 11,123 shares of the company's stock worth $853,000 after purchasing an additional 154 shares in the last quarter. Finally, Sowell Financial Services LLC increased its holdings in Monster Beverage by 3.1% in the 4th quarter. Sowell Financial Services LLC now owns 5,622 shares of the company's stock worth $431,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $92.03 on Friday. Monster Beverage Corporation has a one year low of $58.09 and a one year high of $92.46. The stock's 50-day moving average is $81.75 and its 200 day moving average is $79.16. The firm has a market cap of $90.01 billion, a price-to-earnings ratio of 44.46, a PEG ratio of 3.01 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, sell-side analysts expect that Monster Beverage Corporation will post 2.31 EPS for the current fiscal year.

Monster Beverage announced that its board has initiated a share buyback program on Friday, May 15th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Monster Beverage

In related news, CFO Thomas J. Kelly sold 7,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total value of $614,670.00. Following the completion of the sale, the chief financial officer directly owned 62,553 shares of the company's stock, valued at approximately $5,492,778.93. This represents a 10.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Emelie Tirre sold 10,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.74, for a total value of $857,400.00. Following the completion of the sale, the insider directly owned 71,763 shares of the company's stock, valued at $6,152,959.62. The trade was a 12.23% 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 sold 159,700 shares of company stock valued at $13,730,462. 8.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank Of Canada upped their target price on Monster Beverage from $86.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Morgan Stanley set a $103.00 target price on Monster Beverage and gave the stock an "overweight" rating in a report on Monday, June 1st. Wells Fargo & Company upped their target price on Monster Beverage from $87.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Piper Sandler upped their target price on Monster Beverage from $85.00 to $94.00 and gave the stock an "overweight" rating in a report on Friday, February 27th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $84.00 target price (up from $80.00) on shares of Monster Beverage in a report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Monster Beverage has an average rating of "Moderate Buy" and a consensus target price of $89.05.

Monster Beverage 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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