3,900 Shares in Monster Beverage Co. (NASDAQ:MNST) Bought by Kelleher Financial Advisors

Kelleher Financial Advisors bought a new position in shares of Monster Beverage Co. (NASDAQ:MNST) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,900 shares of the company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MNST. Russell Investments Group Ltd. boosted its position in shares of Monster Beverage by 39.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 916,537 shares of the company’s stock worth $52,646,000 after acquiring an additional 261,568 shares in the last quarter. Meitav Investment House Ltd. acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $292,000. Wintrust Investments LLC acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $770,000. Charles Schwab Investment Management Inc. boosted its position in shares of Monster Beverage by 0.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,207,699 shares of the company’s stock worth $241,690,000 after acquiring an additional 22,363 shares in the last quarter. Finally, Vestor Capital LLC acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $139,000. 64.60% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Down 0.5 %

Shares of Monster Beverage stock opened at $54.85 on Friday. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $60.47. The stock has a market capitalization of $57.07 billion, a P/E ratio of 37.10, a PEG ratio of 1.62 and a beta of 0.83. The business’s fifty day moving average price is $52.91 and its 200 day moving average price is $56.14.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Monster Beverage had a return on equity of 20.50% and a net margin of 22.62%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, sell-side analysts predict that Monster Beverage Co. will post 1.56 EPS for the current year.

Monster Beverage announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MNST. Wells Fargo & Company upped their price objective on Monster Beverage from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Evercore ISI reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Monster Beverage in a research note on Thursday, August 10th. Cfra raised Monster Beverage from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Thursday, October 5th. Piper Sandler downgraded Monster Beverage from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $63.00 to $50.00 in a research note on Tuesday, October 24th. Finally, UBS Group reduced their price objective on Monster Beverage from $63.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.50.

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.