Logan Capital Management Inc. Increases Stock Position in Monster Beverage Corporation $MNST

Logan Capital Management Inc. lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,786 shares of the company’s stock after buying an additional 5,893 shares during the period. Logan Capital Management Inc.’s holdings in Monster Beverage were worth $10,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC grew its position in Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after acquiring an additional 205 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 415 shares during the period. Triumph Capital Management acquired a new position in shares of Monster Beverage in the 3rd quarter valued at about $36,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Monster Beverage during the 3rd quarter worth about $45,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Monster Beverage during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST stock opened at $92.03 on Friday. The company’s fifty day moving average price is $81.75 and its two-hundred day moving average price is $79.16. The firm has a market capitalization of $90.01 billion, a P/E ratio of 44.46, a P/E/G ratio of 3.01 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $58.09 and a 12 month high of $92.46.

Monster Beverage (NASDAQ:MNST) last announced 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. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the firm earned $0.47 earnings per share. The company’s revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts anticipate that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage declared that its board has initiated a share buyback program on Friday, May 15th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Monster Beverage

In related news, CFO Thomas J. Kelly sold 7,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total value of $614,670.00. Following the completion of the sale, the chief financial officer directly owned 62,553 shares of the company’s stock, valued at $5,492,778.93. The trade was a 10.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Emelie Tirre sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.74, for a total value of $857,400.00. Following the sale, the insider directly owned 71,763 shares in the company, valued at approximately $6,152,959.62. This represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,700 shares of company stock worth $13,730,462 in the last 90 days. 8.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MNST shares. Royal Bank Of Canada lifted their price target on shares of Monster Beverage from $86.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. UBS Group reissued a “neutral” rating and issued a $84.00 target price (up from $80.00) on shares of Monster Beverage in a research note on Friday, May 8th. Bank of America decreased their price target on shares of Monster Beverage from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Argus increased their price target on Monster Beverage from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Piper Sandler raised their price objective on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.05.

Monster Beverage 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.