Cornerstone Wealth Group LLC Acquires 3,146 Shares of Monster Beverage Co. (NASDAQ:MNST)

Cornerstone Wealth Group LLC increased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,938 shares of the company’s stock after purchasing an additional 3,146 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Monster Beverage were worth $3,257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Monster Beverage during the fourth quarter valued at approximately $517,035,000. Wellington Management Group LLP lifted its stake in Monster Beverage by 20.3% in the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock worth $1,033,323,000 after purchasing an additional 3,296,466 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of 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 last quarter. TD Asset Management Inc grew its position in shares of Monster Beverage by 143.8% during the fourth quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock valued at $184,921,000 after purchasing an additional 1,893,064 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Monster Beverage by 85.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,114,288 shares of the company’s stock worth $121,804,000 after purchasing an additional 974,610 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark J. Hall sold 250,000 shares of the stock in a transaction on Friday, June 7th. The stock was 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 of the company’s stock, valued at approximately $27,820,413.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 directly owns 532,754 shares in the company, valued at $27,820,413.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now directly owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The disclosure for this sale can be found here. Insiders sold a total of 307,221 shares of company stock valued at $16,070,374 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Stock Down 1.2 %

MNST stock traded down $0.62 during trading on Friday, hitting $49.95. The company had a trading volume of 11,843,336 shares, compared to its average volume of 16,143,267. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $61.22. The company has a 50 day simple moving average of $52.25 and a 200-day simple moving average of $55.29. The firm has a market capitalization of $52.03 billion, a P/E ratio of 31.42, a PEG ratio of 1.98 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Sell-side analysts forecast that Monster Beverage Co. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MNST. Truist Financial cut Monster Beverage from a “buy” rating to a “sell” rating and cut their price target for the company from $65.00 to $46.00 in a report on Thursday, April 25th. Wells Fargo & Company reduced their price target on shares of Monster Beverage from $65.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 25th. Roth Mkm lowered their price objective on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, June 12th. Stifel Nicolaus reduced their target price on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, June 17th. Finally, UBS Group lowered their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and an average target price of $60.10.

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.