Valeo Financial Advisors LLC Purchases New Position in Monster Beverage Co. (NASDAQ:MNST)

Posted by Defense World Staff on Jun 30th, 2023

Valeo Financial Advisors LLC acquired a new position in shares of Monster Beverage Co. (NASDAQ:MNST – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,740 shares of the company’s stock, valued at approximately $364,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MNST. Freedom Wealth Alliance LLC purchased a new position in Monster Beverage during the 4th quarter worth approximately $25,000. AXS Investments LLC purchased a new position in shares of Monster Beverage during the fourth quarter worth approximately $26,000. Resurgent Financial Advisors LLC purchased a new position in shares of Monster Beverage during the fourth quarter worth approximately $26,000. Ancora Advisors LLC acquired a new position in shares of Monster Beverage in the 1st quarter valued at $27,000. Finally, Romano Brothers AND Company purchased a new stake in Monster Beverage in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 67.05% of the company’s stock.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 4,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $59.75, for a total transaction of $239,000.00. Following the completion of the transaction, the director now owns 89,270 shares of the company’s stock, valued at $5,333,882.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Monster Beverage news, Director Mark Vidergauz sold 4,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $59.75, for a total transaction of $239,000.00. Following the sale, the director now directly owns 89,270 shares of the company’s stock, valued at approximately $5,333,882.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Kelly sold 93,192 shares of Monster Beverage stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $59.41, for a total transaction of $5,536,536.72. Following the sale, the chief financial officer now owns 60,056 shares of the company’s stock, valued at $3,567,926.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,783 shares of company stock valued at $10,745,972. 9.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on MNST. JPMorgan Chase & Co. lifted their price objective on shares of Monster Beverage from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, May 5th. Stifel Nicolaus reduced their price objective on Monster Beverage to $61.00 and set a “buy” rating for the company in a research note on Monday, April 3rd. Wedbush lowered their target price on Monster Beverage to $52.00 and set a “neutral” rating on the stock in a research note on Friday, April 7th. StockNews.com cut Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday. Finally, UBS Group lifted their price objective on shares of Monster Beverage from $56.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, May 5th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.98.

Monster Beverage Stock Up 0.5 %

NASDAQ:MNST opened at $57.42 on Friday. Monster Beverage Co. has a 52-week low of $42.81 and a 52-week high of $60.47. The stock has a fifty day simple moving average of $57.98 and a 200-day simple moving average of $54.04. The company has a market capitalization of $57.42 billion, a PE ratio of 47.07, a price-to-earnings-growth ratio of 1.63 and a beta of 0.86.

Monster Beverage (NASDAQ:MNST – Free Report) last announced its earnings results on Thursday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Monster Beverage had a net margin of 19.95% and a return on equity of 18.47%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, equities analysts anticipate that Monster Beverage Co. will post 1.54 earnings per share for the current year.

Monster Beverage Company Profile

(Free Report)

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.