HighTower Advisors LLC Purchases 2,460 Shares of Monster Beverage Corporation $MNST

HighTower Advisors LLC grew its position in Monster Beverage Corporation (NASDAQ:MNST) by 4.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,749 shares of the company’s stock after buying an additional 2,460 shares during the period. HighTower Advisors LLC’s holdings in Monster Beverage were worth $3,496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Sector Pension Investment Board raised its position in shares of Monster Beverage by 2.7% in the 1st quarter. Public Sector Pension Investment Board now owns 322,289 shares of the company’s stock valued at $18,860,000 after purchasing an additional 8,394 shares during the last quarter. Motley Fool Asset Management LLC raised its position in shares of Monster Beverage by 3.9% in the 1st quarter. Motley Fool Asset Management LLC now owns 52,895 shares of the company’s stock valued at $3,095,000 after purchasing an additional 1,988 shares during the last quarter. SouthState Corp raised its position in shares of Monster Beverage by 37.2% in the 1st quarter. SouthState Corp now owns 1,873 shares of the company’s stock valued at $110,000 after purchasing an additional 508 shares during the last quarter. Nuveen LLC purchased a new position in shares of Monster Beverage in the 1st quarter valued at approximately $497,157,000. Finally, Aigen Investment Management LP purchased a new position in shares of Monster Beverage in the 1st quarter valued at approximately $389,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Down 0.0%

MNST opened at $64.36 on Friday. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $66.75. The firm has a market capitalization of $62.84 billion, a PE ratio of 39.98, a P/E/G ratio of 2.11 and a beta of 0.55. The firm has a 50 day moving average of $61.70 and a two-hundred day moving average of $58.95.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the firm posted $0.41 EPS. Monster Beverage’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MNST has been the subject of several research analyst reports. Roth Capital reaffirmed a “neutral” rating and issued a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the company an “overweight” rating in a research report on Friday, August 8th. Royal Bank Of Canada set a $68.00 price objective on shares of Monster Beverage and gave the company an “outperform” rating in a research report on Friday, August 8th. The Goldman Sachs Group increased their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Finally, Rothschild & Co Redburn lowered shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Wednesday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.10.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the transaction, the chief financial officer directly owned 69,273 shares of the company’s stock, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.30% of the stock is owned by insiders.

Monster Beverage 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: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.