Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC raised its stake in Monster Beverage Co. (NASDAQ:MNST) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,245 shares of the company’s stock after buying an additional 269 shares during the period. Checchi Capital Advisers LLC’s holdings in Monster Beverage were worth $462,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Monster Beverage by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock valued at $3,837,867,000 after purchasing an additional 1,059,042 shares during the period. Clearbridge Investments LLC raised its stake in Monster Beverage by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock valued at $691,182,000 after purchasing an additional 37,391 shares during the period. Janus Henderson Group PLC raised its stake in Monster Beverage by 4.1% during the 1st quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after purchasing an additional 440,962 shares during the period. Capital Research Global Investors raised its stake in Monster Beverage by 40.6% during the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after purchasing an additional 3,026,657 shares during the period. Finally, Norges Bank acquired a new stake in Monster Beverage during the 4th quarter valued at $517,035,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Down 1.1 %

Shares of MNST stock opened at $47.05 on Thursday. The firm has a fifty day moving average of $49.20 and a 200-day moving average of $53.07. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The firm has a market capitalization of $49.01 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. Research analysts expect that Monster Beverage Co. will post 1.75 earnings per share for the current year.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 250,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the transaction, the director now owns 532,754 shares in the company, valued at approximately $27,820,413.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the transaction, the director now directly owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 307,221 shares of company stock worth $16,070,374. Insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Evercore ISI decreased their target price on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Piper Sandler cut their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada cut their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup cut their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Jefferies Financial Group cut their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and an average price target of $55.85.

About Monster Beverage

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.