Redmont Wealth Advisors LLC Makes New $66,000 Investment in Monster Beverage Co. (NASDAQ:MNST)

Redmont Wealth Advisors LLC acquired a new position in Monster Beverage Co. (NASDAQ:MNST) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,120 shares of the company’s stock, valued at approximately $66,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp raised its stake in shares of Monster Beverage by 9.6% in the 3rd quarter. Truist Financial Corp now owns 756,744 shares of the company’s stock valued at $40,070,000 after purchasing an additional 66,514 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Monster Beverage by 69.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 33,121 shares of the company’s stock valued at $1,754,000 after purchasing an additional 13,533 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Monster Beverage by 16.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 27,401 shares of the company’s stock valued at $1,451,000 after purchasing an additional 3,773 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Monster Beverage by 17.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,616,767 shares of the company’s stock valued at $138,559,000 after purchasing an additional 387,242 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in shares of Monster Beverage in the 3rd quarter valued at about $315,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction on Tuesday, June 11th. The shares were 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 of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now directly owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage 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 of the company’s stock, valued at $99,404,574. The disclosure for this sale can be found here. Insiders sold a total of 307,221 shares of company stock valued at $16,070,374 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MNST shares. Truist Financial downgraded shares of Monster Beverage from a “buy” rating to a “sell” rating and lowered their price objective for the company from $65.00 to $46.00 in a research report on Thursday, April 25th. Redburn Atlantic started coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They set a “buy” rating for the company. BNP Paribas started coverage on shares of Monster Beverage in a research report on Monday, June 24th. They set an “underperform” rating and a $48.00 price objective for the company. UBS Group lowered their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Monster Beverage from $66.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.05.

Monster Beverage Stock Down 0.4 %

Shares of MNST traded down $0.18 during mid-day trading on Wednesday, hitting $49.16. 4,172,023 shares of the company’s stock were exchanged, compared to its average volume of 7,570,869. The firm has a fifty day moving average of $52.09 and a two-hundred day moving average of $55.20. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22. The stock has a market cap of $51.21 billion, a price-to-earnings ratio of 30.92, a P/E/G ratio of 1.98 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last posted its 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). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts predict that Monster Beverage Co. will post 1.76 earnings per share for the current year.

Monster Beverage Company 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.