5,045 Shares in Monster Beverage Co. (NASDAQ:MNST) Purchased by Independent Advisor Alliance

Independent Advisor Alliance purchased a new position in Monster Beverage Co. (NASDAQ:MNST) during the fourth quarter, Holdings Channel.com reports. The firm purchased 5,045 shares of the company’s stock, valued at approximately $291,000.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Monster Beverage by 20.3% during the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock valued at $1,033,323,000 after acquiring an additional 3,296,466 shares in the last quarter. Northern Trust Corp grew its stake in Monster Beverage by 3.3% during the 3rd quarter. Northern Trust Corp now owns 7,638,653 shares of the company’s stock valued at $404,467,000 after acquiring an additional 243,401 shares in the last quarter. Nordea Investment Management AB grew its stake in Monster Beverage by 6.2% during the 3rd quarter. Nordea Investment Management AB now owns 5,211,419 shares of the company’s stock valued at $278,238,000 after acquiring an additional 305,086 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Monster Beverage by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,218,467 shares of the company’s stock valued at $243,026,000 after acquiring an additional 89,861 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Monster Beverage by 33.5% during the 3rd quarter. American Century Companies Inc. now owns 3,782,074 shares of the company’s stock valued at $200,261,000 after acquiring an additional 948,133 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the transaction, the director now directly owns 777,840 shares in the company, valued at $45,542,532. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group lowered their target price on Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. HSBC lowered their target price on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Jefferies Financial Group lifted their target price on Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Piper Sandler lifted their price target on Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Truist Financial lowered Monster Beverage from a “buy” rating to a “sell” rating and reduced their price target for the company from $65.00 to $46.00 in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.32.

Monster Beverage Stock Performance

MNST opened at $53.10 on Thursday. The business has a 50 day moving average price of $55.78 and a 200 day moving average price of $56.12. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22. The firm has a market cap of $55.32 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that Monster Beverage Co. will post 1.77 earnings per share for the current fiscal year.

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.