AXS Investments LLC Purchases 278 Shares of Monster Beverage Co. (NASDAQ:MNST)

AXS Investments LLC lifted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 108.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 534 shares of the company’s stock after purchasing an additional 278 shares during the quarter. AXS Investments LLC’s holdings in Monster Beverage were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its stake in Monster Beverage by 65.7% during the first quarter. FMR LLC now owns 40,938,968 shares of the company’s stock worth $2,211,114,000 after buying an additional 16,239,404 shares in the last quarter. Vanguard Group Inc. increased its stake in Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 30,005,150 shares of the company’s stock valued at $2,397,411,000 after acquiring an additional 504,239 shares during the period. State Street Corp raised its position in Monster Beverage by 2.4% in the first quarter. State Street Corp now owns 17,029,815 shares of the company’s stock worth $1,360,682,000 after purchasing an additional 391,417 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Monster Beverage by 111.9% during the first quarter. Wellington Management Group LLP now owns 16,220,396 shares of the company’s stock valued at $876,064,000 after purchasing an additional 8,565,588 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Monster Beverage by 10.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,071,948 shares of the company’s stock valued at $804,749,000 after purchasing an additional 912,942 shares during the period. 64.60% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

Shares of MNST opened at $56.55 on Monday. The business’s fifty day moving average price is $57.43 and its two-hundred day moving average price is $56.18. The firm has a market capitalization of $59.24 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 1.60 and a beta of 0.83. Monster Beverage Co. has a 52 week low of $42.81 and a 52 week high of $60.47.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Monster Beverage had a net margin of 21.45% and a return on equity of 19.75%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts forecast that Monster Beverage Co. will post 1.54 EPS for the current year.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark J. Hall sold 56,202 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $58.81, for a total transaction of $3,305,239.62. Following the completion of the transaction, the director now directly owns 1,027,840 shares in the company, valued at approximately $60,447,270.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Mark J. Hall sold 56,202 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $58.81, for a total value of $3,305,239.62. Following the sale, the director now directly owns 1,027,840 shares in the company, valued at approximately $60,447,270.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 110,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $57.35, for a total transaction of $6,308,500.00. Following the transaction, the director now owns 1,141,262 shares of the company’s stock, valued at approximately $65,451,375.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,318 shares of company stock valued at $9,620,379. 9.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on MNST shares. Roth Mkm raised their target price on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, August 10th. Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $63.00 in a report on Monday, August 7th. StockNews.com initiated coverage on shares of Monster Beverage in a report on Thursday, August 17th. They issued a “hold” rating on the stock. UBS Group cut their price target on shares of Monster Beverage from $63.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, August 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $60.00 price target on shares of Monster Beverage in a research report on Monday, August 7th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.71.

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: Finished Product, Concentrate, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas and juice drinks, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.