MGO One Seven LLC Buys 3,442 Shares of Monster Beverage Co. (NASDAQ:MNST)

Posted by Defense World Staff on Aug 15th, 2023

MGO One Seven LLC raised its position in shares of Monster Beverage Co. (NASDAQ:MNST – Free Report) by 91.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 7,190 shares of the company’s stock after purchasing an additional 3,442 shares during the quarter. MGO One Seven LLC’s holdings in Monster Beverage were worth $388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MNST. AdvisorNet Financial Inc increased its position in Monster Beverage by 95.8% during the 1st quarter. AdvisorNet Financial Inc now owns 468 shares of the company’s stock valued at $25,000 after purchasing an additional 229 shares during the period. Freedom Wealth Alliance LLC acquired a new stake in shares of Monster Beverage during the 4th quarter worth approximately $25,000. AXS Investments LLC acquired a new stake in shares of Monster Beverage during the 4th quarter worth approximately $26,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Monster Beverage during the 4th quarter worth approximately $26,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Monster Beverage during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 67.05% of the company’s stock.

Monster Beverage Price Performance

NASDAQ MNST opened at $59.01 on Tuesday. The stock has a market capitalization of $61.81 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 1.65 and a beta of 0.83. Monster Beverage Co. has a one year low of $42.81 and a one year high of $60.47. The business’s fifty day moving average is $57.62 and its 200-day moving average is $55.59.

Monster Beverage (NASDAQ:MNST – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. 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 19.75% and a net margin of 21.45%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. Research analysts expect that Monster Beverage Co. will post 1.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on MNST shares. Stifel Nicolaus raised their price objective on shares of Monster Beverage from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. BMO Capital Markets raised their price objective on shares of Monster Beverage from $52.50 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, May 8th. Bank of America lifted their price target on shares of Monster Beverage from $62.50 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $63.00 in a research report on Monday, August 7th. Finally, Wells Fargo & Company lifted their price target on shares of Monster Beverage from $58.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, May 5th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.71.

View Our Latest Stock Analysis on MNST

Insider Activity at Monster Beverage

In related news, Director Mark Vidergauz sold 4,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $59.75, for a total value of $239,000.00. Following the sale, the director now directly owns 89,270 shares in the company, valued at approximately $5,333,882.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mark J. Hall sold 110,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $57.35, for a total value of $6,308,500.00. Following the sale, the director now directly owns 1,141,262 shares in the company, valued at approximately $65,451,375.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Vidergauz sold 4,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $59.75, for a total value of $239,000.00. Following the completion of the sale, the director now owns 89,270 shares in the company, valued at $5,333,882.50. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by company insiders.

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.