GAMMA Investing LLC Grows Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

GAMMA Investing LLC lifted its position in Monster Beverage Co. (NASDAQ:MNST) by 10.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,382 shares of the company’s stock after purchasing an additional 1,121 shares during the quarter. GAMMA Investing LLC’s holdings in Monster Beverage were worth $569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MNST. Edmond DE Rothschild Holding S.A. grew its stake in shares of Monster Beverage by 9.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock valued at $124,000 after buying an additional 189 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in Monster Beverage by 5.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock valued at $256,000 after purchasing an additional 209 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Monster Beverage by 3.7% during the fourth quarter. CENTRAL TRUST Co now owns 5,908 shares of the company’s stock valued at $340,000 after purchasing an additional 213 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in shares of Monster Beverage by 1.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock worth $789,000 after purchasing an additional 226 shares during the last quarter. Finally, Savant Capital LLC increased its stake in shares of Monster Beverage by 4.6% in the fourth quarter. Savant Capital LLC now owns 5,200 shares of the company’s stock worth $300,000 after buying an additional 227 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial cut Monster Beverage from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $65.00 to $46.00 in a report on Thursday, April 25th. UBS Group decreased their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Bank of America cut their price objective on Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of Monster Beverage in a research report on Monday, July 1st. Finally, Piper Sandler raised their target price on Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Monster Beverage currently has an average rating of “Hold” and a consensus price target of $59.33.

Monster Beverage Stock Up 0.4 %

NASDAQ:MNST traded up $0.23 during trading hours on Friday, hitting $51.61. 6,058,471 shares of the stock traded hands, compared to its average volume of 5,579,234. The company has a market cap of $53.76 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22. The stock has a 50 day moving average price of $50.48 and a 200 day moving average price of $54.09.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts forecast that Monster Beverage Co. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares in the company, valued at approximately $99,404,574. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mark Vidergauz sold 15,077 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the sale, the director now directly owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the transaction, the chief executive officer now owns 1,875,558 shares in the company, valued at approximately $99,404,574. The disclosure for this sale can be found here. Insiders have sold a total of 307,221 shares of company stock worth $16,070,374 in the last 90 days. 7.80% of the stock is currently owned by corporate 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.