Monster Beverage Corporation $MNST is Broadwood Capital Inc.’s Largest Position

Broadwood Capital Inc. lessened its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 0.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,198,996 shares of the company’s stock after selling 51,432 shares during the quarter. Monster Beverage comprises about 36.9% of Broadwood Capital Inc.’s portfolio, making the stock its largest holding. Broadwood Capital Inc.’s holdings in Monster Beverage were worth $628,617,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbor Investment Advisory LLC raised its stake in shares of Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after purchasing an additional 205 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after acquiring an additional 415 shares in the last quarter. Triumph Capital Management purchased a new position in Monster Beverage in the third quarter worth $36,000. KERR FINANCIAL PLANNING Corp purchased a new position in Monster Beverage in the third quarter worth $45,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Monster Beverage in the third quarter worth $42,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Monster Beverage stock opened at $92.95 on Wednesday. The firm has a market capitalization of $90.91 billion, a price-to-earnings ratio of 44.90, a price-to-earnings-growth ratio of 3.08 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $93.92. The stock’s fifty day moving average is $82.98 and its two-hundred day moving average is $79.56.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.Monster Beverage’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. As a group, sell-side analysts forecast that Monster Beverage Corporation will post 2.31 EPS for the current fiscal year.

Monster Beverage announced that its board has approved a share repurchase plan on Friday, May 15th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on MNST shares. Piper Sandler increased their price objective on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Morgan Stanley set a $103.00 price objective on Monster Beverage and gave the stock an “overweight” rating in a research report on Monday, June 1st. TD Cowen cut their price objective on Monster Beverage from $88.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 20th. Evercore increased their price objective on Monster Beverage from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Bank of America cut their price objective on Monster Beverage from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and an average target price of $89.35.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 54,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the sale, the director owned 299,246 shares of the company’s stock, valued at approximately $25,678,299.26. This represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Guy Carling sold 19,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $90.90, for a total value of $1,727,100.00. Following the sale, the chief executive officer directly owned 21,863 shares in the company, valued at approximately $1,987,346.70. The trade was a 46.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 178,700 shares of company stock worth $15,457,562 over the last ninety days. 8.10% of the stock is currently owned by company insiders.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.