Janney Montgomery Scott LLC Boosts Position in Monster Beverage Co. (NASDAQ:MNST)

Janney Montgomery Scott LLC grew its stake in Monster Beverage Co. (NASDAQ:MNST) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 420,399 shares of the company’s stock after acquiring an additional 11,196 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Monster Beverage were worth $24,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Monster Beverage by 5.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,659 shares of the company’s stock valued at $211,000 after acquiring an additional 196 shares in the last quarter. PFG Investments LLC increased its stake in Monster Beverage by 2.6% in the fourth quarter. PFG Investments LLC now owns 7,761 shares of the company’s stock valued at $447,000 after purchasing an additional 199 shares during the last quarter. CENTRAL TRUST Co increased its stake in Monster Beverage by 3.7% in 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 last quarter. Ashton Thomas Private Wealth LLC increased its stake in Monster Beverage by 1.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock valued at $789,000 after purchasing an additional 226 shares during the last quarter. Finally, Savant Capital LLC increased its stake in Monster Beverage by 4.6% in the fourth quarter. Savant Capital LLC now owns 5,200 shares of the company’s stock valued at $300,000 after purchasing an additional 227 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MNST. UBS Group dropped their price target on Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of Monster Beverage in a report on Monday, July 1st. BMO Capital Markets reduced their target price on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Truist Financial downgraded Monster Beverage from a “buy” rating to a “sell” rating and reduced their target price for the stock from $65.00 to $46.00 in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. downgraded Monster Beverage from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $59.00 in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.05.

Insider Activity

In other news, Director Mark J. Hall sold 250,000 shares of Monster Beverage stock in a transaction on Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the transaction, the director now owns 532,754 shares in the company, valued at $27,820,413.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,875,558 shares in the company, valued at approximately $99,404,574. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $52.22, for a total value of $13,055,000.00. Following the sale, the director now owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 307,221 shares of company stock worth $16,070,374. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Trading Up 1.2 %

Shares of Monster Beverage stock traded up $0.59 on Friday, reaching $49.75. 6,076,772 shares of the company were exchanged, compared to its average volume of 10,244,514. The stock has a fifty day moving average price of $51.83 and a 200-day moving average price of $55.08. The firm has a market capitalization of $51.83 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. Monster Beverage Co. has a fifty-two week low of $47.13 and a fifty-two week high of $61.22.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. 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 firm posted $0.38 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Monster Beverage Co. will post 1.76 earnings per share for the current fiscal year.

About Monster Beverage

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.