NewEdge Advisors LLC Has $1.51 Million Holdings in Monster Beverage Co. (NASDAQ:MNST)

NewEdge Advisors LLC grew its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,702 shares of the company's stock after buying an additional 6,538 shares during the period. NewEdge Advisors LLC's holdings in Monster Beverage were worth $1,509,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock valued at $28,000 after acquiring an additional 203 shares during the period. Spire Wealth Management acquired a new position in shares of Monster Beverage in the fourth quarter valued at $29,000. Retirement Wealth Solutions LLC bought a new position in shares of Monster Beverage in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Monster Beverage during the 4th quarter worth about $31,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Monster Beverage during the 4th quarter worth about $33,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Guy Carling sold 47,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $55.02, for a total transaction of $2,585,940.00. Following the completion of the transaction, the insider now directly owns 21,993 shares of the company's stock, valued at $1,210,054.86. This trade represents a 68.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark J. Hall sold 12,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $54.50, for a total value of $654,000.00. Following the completion of the sale, the director now owns 296,846 shares in the company, valued at $16,178,107. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,316 shares of company stock valued at $11,484,440 in the last 90 days. Corporate insiders own 7.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on MNST shares. Wells Fargo & Company increased their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Truist Financial increased their target price on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research note on Wednesday. Morgan Stanley lifted their price target on Monster Beverage from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. UBS Group upped their price objective on Monster Beverage from $57.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. Finally, Jefferies Financial Group lifted their target price on Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Monster Beverage has a consensus rating of "Hold" and an average target price of $57.89.

Monster Beverage Stock Performance

Monster Beverage stock opened at $59.15 on Thursday. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The stock has a market cap of $57.56 billion, a PE ratio of 37.92, a P/E/G ratio of 2.28 and a beta of 0.64. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $60.34. The business's 50-day moving average price is $56.11 and its two-hundred day moving average price is $53.30.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. As a group, analysts expect that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Monster Beverage Company 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.

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