Rockport Wealth LLC Invests $277,000 in Monster Beverage Co. (NASDAQ:MNST)

Rockport Wealth LLC acquired a new position in Monster Beverage Co. (NASDAQ:MNST) during the 1st quarter, Holdings Channel reports. The firm acquired 4,673 shares of the company’s stock, valued at approximately $277,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new stake in Monster Beverage during the 4th quarter worth approximately $27,000. Tortoise Investment Management LLC raised its stake in Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares during the period. Rise Advisors LLC raised its stake in Monster Beverage by 187.6% during the 1st quarter. Rise Advisors LLC now owns 716 shares of the company’s stock worth $42,000 after acquiring an additional 467 shares during the period. Benjamin Edwards Inc. raised its stake in Monster Beverage by 68.1% during the 1st quarter. Benjamin Edwards Inc. now owns 950 shares of the company’s stock worth $56,000 after acquiring an additional 385 shares during the period. Finally, Redmont Wealth Advisors LLC bought a new stake in Monster Beverage during the 1st quarter worth approximately $66,000. Institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at $99,404,574. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction on 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 directly owns 1,875,558 shares in the company, valued at $99,404,574. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the sale, the director now owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The disclosure for this sale can be found here. Insiders sold a total of 307,221 shares of company stock worth $16,070,374 over the last three months. 7.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. TD Cowen decreased their target price on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. BMO Capital Markets cut their price objective on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Morgan Stanley cut their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Roth Mkm cut their price objective on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, June 12th. Finally, Truist Financial lowered shares of Monster Beverage from a “buy” rating to a “sell” rating and cut their price objective for the company from $65.00 to $46.00 in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $59.33.

Monster Beverage Stock Down 0.1 %

MNST traded down $0.05 during trading on Tuesday, reaching $50.31. The company had a trading volume of 6,140,359 shares, compared to its average volume of 7,392,788. The stock has a market cap of $52.41 billion, a P/E ratio of 31.67, a PEG ratio of 2.07 and a beta of 0.76. The business has a 50 day simple moving average of $50.96 and a 200-day simple moving average of $54.56. Monster Beverage Co. has a 52 week low of $47.13 and a 52 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, equities research analysts expect that Monster Beverage Co. will post 1.75 EPS for the current fiscal year.

Monster Beverage Profile

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.