Envestnet Portfolio Solutions Inc. Has $5.33 Million Stake in Monster Beverage Corporation $MNST

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 13.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,525 shares of the company’s stock after buying an additional 8,180 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Monster Beverage were worth $5,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Capital Advisory Group Advisory Services LLC grew its position in shares of Monster Beverage by 2.8% during the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 4,841 shares of the company’s stock worth $371,000 after buying an additional 133 shares during the period. D.A. Davidson & CO. increased its position in Monster Beverage by 3.6% in the 4th quarter. D.A. Davidson & CO. now owns 4,071 shares of the company’s stock valued at $312,000 after buying an additional 141 shares in the last quarter. Earned Wealth Advisors LLC increased its position in Monster Beverage by 3.8% in the 4th quarter. Earned Wealth Advisors LLC now owns 4,171 shares of the company’s stock valued at $320,000 after buying an additional 151 shares in the last quarter. Sage Mountain Advisors LLC increased its position in Monster Beverage by 1.4% in the 4th quarter. Sage Mountain Advisors LLC now owns 11,123 shares of the company’s stock valued at $853,000 after buying an additional 154 shares in the last quarter. Finally, Premier Path Wealth Partners LLC increased its position in Monster Beverage by 3.2% in the 3rd quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company’s stock valued at $353,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Activity

In related news, insider Emelie Tirre sold 88,700 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the transaction, the insider directly owned 81,763 shares in the company, valued at approximately $7,028,347.48. The trade was a 52.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark J. Hall sold 54,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the transaction, the director owned 299,246 shares in the company, valued at approximately $25,678,299.26. This trade represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 159,700 shares of company stock worth $13,730,462 over the last 90 days. 8.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on MNST shares. Evercore boosted their target price on Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Wall Street Zen lowered Monster Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Piper Sandler boosted their target price on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Argus upped their price objective on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.89.

Monster Beverage Stock Up 0.6%

MNST stock opened at $86.88 on Thursday. Monster Beverage Corporation has a twelve month low of $58.09 and a twelve month high of $88.77. The stock’s 50 day moving average is $77.22 and its 200-day moving average is $77.06. The firm has a market capitalization of $84.97 billion, a PE ratio of 41.97, a P/E/G ratio of 2.84 and a beta of 0.50.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities research analysts anticipate that Monster Beverage Corporation will post 2.31 earnings per share for the current fiscal year.

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

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.