IPG Investment Advisors LLC Grows Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

IPG Investment Advisors LLC raised its position in Monster Beverage Co. (NASDAQ:MNSTFree Report) by 21.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,316 shares of the company’s stock after acquiring an additional 2,191 shares during the period. IPG Investment Advisors LLC’s holdings in Monster Beverage were worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Monster Beverage by 8.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,210 shares of the company’s stock worth $1,017,000 after purchasing an additional 1,482 shares during the last quarter. Corient Private Wealth LLC boosted its position in Monster Beverage by 112.2% during the third quarter. Corient Private Wealth LLC now owns 195,272 shares of the company’s stock worth $10,339,000 after acquiring an additional 103,271 shares during the last quarter. Portside Wealth Group LLC acquired a new position in Monster Beverage in the 2nd quarter valued at about $6,379,000. Perigon Wealth Management LLC boosted its holdings in Monster Beverage by 5.8% in the 2nd quarter. Perigon Wealth Management LLC now owns 18,060 shares of the company’s stock valued at $1,037,000 after purchasing an additional 997 shares during the last quarter. Finally, Cibc World Markets Corp boosted its holdings in Monster Beverage by 47.8% in the 2nd quarter. Cibc World Markets Corp now owns 177,198 shares of the company’s stock valued at $10,178,000 after purchasing an additional 57,288 shares during the last quarter. 64.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Monster Beverage

In related news, CFO Thomas J. Kelly sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.19, for a total value of $1,655,700.00. Following the sale, the chief financial officer now directly owns 60,056 shares of the company’s stock, valued at $3,314,490.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mark Vidergauz sold 3,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $54.90, for a total transaction of $164,700.00. Following the completion of the transaction, the director now owns 81,270 shares in the company, valued at $4,461,723. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas J. Kelly sold 30,000 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.19, for a total transaction of $1,655,700.00. Following the completion of the transaction, the chief financial officer now owns 60,056 shares of the company’s stock, valued at approximately $3,314,490.64. The disclosure for this sale can be found here. Insiders have sold 69,553 shares of company stock valued at $3,850,599 over the last ninety days. Corporate insiders own 9.40% of the company’s stock.

Monster Beverage Stock Up 0.1 %

Shares of NASDAQ MNST traded up $0.07 during trading on Monday, reaching $55.73. 1,435,275 shares of the stock were exchanged, compared to its average volume of 5,418,800. The business’s 50-day moving average price is $56.36 and its 200 day moving average price is $55.29. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $60.47. The company has a market capitalization of $57.98 billion, a price-to-earnings ratio of 37.52, a price-to-earnings-growth ratio of 1.47 and a beta of 0.72.

Monster Beverage declared that its board has authorized a stock buyback plan on Wednesday, November 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

MNST has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on shares of Monster Beverage from $50.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. Bank of America lowered their target price on shares of Monster Beverage from $63.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Jefferies Financial Group started coverage on shares of Monster Beverage in a research report on Monday, November 13th. They set a “buy” rating and a $65.00 price objective on the stock. Citigroup lifted their target price on shares of Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, The Goldman Sachs Group lifted their target price on shares of Monster Beverage from $62.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.73.

Get Our Latest Stock Report on MNST

About Monster Beverage

(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.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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