Cornerstone Wealth Group LLC Purchases 3,146 Shares of Monster Beverage Co. (NASDAQ:MNST)

Cornerstone Wealth Group LLC lifted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,938 shares of the company’s stock after purchasing an additional 3,146 shares during the period. Cornerstone Wealth Group LLC’s holdings in Monster Beverage were worth $3,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Monster Beverage by 5.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,659 shares of the company’s stock valued at $211,000 after acquiring an additional 196 shares during the last quarter. PFG Investments LLC boosted its stake in shares of Monster Beverage by 2.6% during the fourth quarter. PFG Investments LLC now owns 7,761 shares of the company’s stock valued at $447,000 after purchasing an additional 199 shares in the last quarter. CENTRAL TRUST Co grew its holdings in shares of Monster Beverage by 3.7% during the fourth quarter. CENTRAL TRUST Co now owns 5,908 shares of the company’s stock worth $340,000 after purchasing an additional 213 shares during the last quarter. Savant Capital LLC increased its stake in shares of Monster Beverage by 4.6% in the fourth quarter. Savant Capital LLC now owns 5,200 shares of the company’s stock valued at $300,000 after buying an additional 227 shares during the period. Finally, Fulton Bank N.A. raised its holdings in Monster Beverage by 1.2% in the 1st quarter. Fulton Bank N.A. now owns 20,892 shares of the company’s stock valued at $1,238,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the transaction, 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. 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 sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at approximately $99,404,574. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark J. Hall sold 250,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the completion of the transaction, the director now directly owns 532,754 shares in the company, valued at $27,820,413.88. The disclosure for this sale can be found here. Insiders sold a total of 307,221 shares of company stock worth $16,070,374 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on MNST. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 target price on shares of Monster Beverage in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on Monster Beverage from $66.00 to $63.00 and set a “buy” rating for the company in a report on Friday, June 14th. HSBC cut their target price on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. BNP Paribas assumed coverage on Monster Beverage in a research report on Monday, June 24th. They issued an “underperform” rating and a $48.00 price target on the stock. Finally, Roth Mkm lowered their price target 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.10.

Monster Beverage Trading Down 1.2 %

Shares of MNST traded down $0.62 on Friday, reaching $49.95. The company’s stock had a trading volume of 11,843,336 shares, compared to its average volume of 16,143,267. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22. The stock has a market capitalization of $52.03 billion, a PE ratio of 31.42, a PEG ratio of 1.98 and a beta of 0.76. The firm has a fifty day moving average of $52.25 and a 200-day moving average of $55.29.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that Monster Beverage Co. will post 1.76 EPS for the current fiscal year.

About Monster Beverage

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.