Monster Beverage Corporation $MNST Shares Purchased by Oxbow Advisors LLC

Oxbow Advisors LLC raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 70.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,814 shares of the company’s stock after acquiring an additional 35,528 shares during the quarter. Oxbow Advisors LLC’s holdings in Monster Beverage were worth $6,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrity Wealth Partners LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at about $478,000. HB Wealth Management LLC grew its position in shares of Monster Beverage by 9.3% in the first quarter. HB Wealth Management LLC now owns 21,265 shares of the company’s stock valued at $1,541,000 after purchasing an additional 1,803 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Monster Beverage in the first quarter valued at approximately $4,206,000. World Investment Advisors increased its stake in shares of Monster Beverage by 18.5% during the 1st quarter. World Investment Advisors now owns 9,744 shares of the company’s stock worth $706,000 after purchasing an additional 1,519 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC increased its stake in shares of Monster Beverage by 5.3% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 4,687 shares of the company’s stock worth $340,000 after purchasing an additional 236 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $97.60 on Friday. The company has a 50-day simple moving average of $88.09 and a 200-day simple moving average of $81.41. The company has a market cap of $95.45 billion, a PE ratio of 47.15, a price-to-earnings-growth ratio of 3.21 and a beta of 0.53. Monster Beverage Corporation has a 12 month low of $58.09 and a 12 month high of $98.93.

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 the consensus estimate of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, analysts anticipate that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage announced that its Board of Directors has initiated a share repurchase program on Friday, May 15th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Monster Beverage news, CEO Guy Carling sold 19,000 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 21,863 shares of the company’s stock, valued at $1,987,346.70. This represents a 46.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark J. Hall sold 54,000 shares of the 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 transaction, the director directly owned 299,246 shares in the company, valued at approximately $25,678,299.26. This represents a 15.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 178,700 shares of company stock valued at $15,457,562. Insiders own 8.10% of the company’s stock.

Analysts Set New Price Targets

MNST has been the subject of several research reports. 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. Wall Street Zen cut Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Royal Bank Of Canada raised their price target on Monster Beverage from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. UBS Group reissued a “neutral” rating and issued a $84.00 price target (up from $80.00) on shares of Monster Beverage in a report on Friday, May 8th. Finally, Wells Fargo & Company upped their price objective on Monster Beverage from $87.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and a consensus price target of $89.35.

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.