Rare Wolf Capital LLC Takes Position in Monster Beverage Corporation $MNST

Rare Wolf Capital LLC bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,436 shares of the company’s stock, valued at approximately $647,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MNST. Harbor Investment Advisory LLC raised its stake in shares of Monster Beverage by 136.7% in 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. lifted its holdings in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Monster Beverage during the fourth quarter valued at approximately $35,000. Triumph Capital Management purchased a new position in shares of Monster Beverage during the third quarter valued at approximately $36,000. Finally, Miller Capital Partners Inc. bought a new stake in Monster Beverage during the fourth quarter worth $36,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Down 0.3%

Shares of Monster Beverage stock opened at $91.34 on Friday. The business’s fifty day simple moving average is $83.71 and its 200 day simple moving average is $79.79. Monster Beverage Corporation has a 12 month low of $58.09 and a 12 month high of $93.92. The firm has a market capitalization of $89.33 billion, a P/E ratio of 44.13, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54.

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

Monster Beverage announced that its Board of Directors has initiated a stock buyback program on Friday, May 15th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 0.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Monster Beverage

In related news, CFO Thomas J. Kelly sold 7,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total transaction of $614,670.00. Following the completion of the transaction, the chief financial officer owned 62,553 shares in the company, valued at approximately $5,492,778.93. This represents a 10.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Guy Carling sold 19,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $90.90, for a total transaction of $1,727,100.00. Following the sale, the chief executive officer owned 21,863 shares of the company’s stock, valued at $1,987,346.70. This trade represents a 46.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 178,700 shares of company stock valued at $15,457,562 over the last quarter. Corporate insiders own 8.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MNST. Royal Bank Of Canada increased their price target on Monster Beverage from $86.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Monster Beverage from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Piper Sandler increased their target price on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Sanford C. Bernstein started coverage on shares of Monster Beverage in a research report on Friday, June 12th. They set a “market perform” rating and a $95.00 price target on the stock. Finally, Argus raised their price target on shares of Monster Beverage from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.35.

Monster Beverage Company Profile

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.