Aaron Wealth Advisors LLC Sells 5,471 Shares of Monster Beverage Corporation $MNST

Aaron Wealth Advisors LLC reduced its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,530 shares of the company’s stock after selling 5,471 shares during the period. Aaron Wealth Advisors LLC’s holdings in Monster Beverage were worth $2,357,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MNST. Norges Bank bought a new stake in Monster Beverage in the fourth quarter worth approximately $691,104,000. Massachusetts Financial Services Co. MA lifted its position in shares of Monster Beverage by 7,360.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock valued at $474,695,000 after acquiring an additional 6,108,420 shares during the period. Wellington Management Group LLP boosted its stake in Monster Beverage by 133.4% during the fourth quarter. Wellington Management Group LLP now owns 8,499,546 shares of the company’s stock worth $651,660,000 after acquiring an additional 4,858,109 shares in the last quarter. State Street Corp grew its holdings in Monster Beverage by 8.0% in the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock worth $2,538,872,000 after purchasing an additional 2,789,273 shares during the period. Finally, Capital Research Global Investors grew its holdings in Monster Beverage by 71.4% in the third quarter. Capital Research Global Investors now owns 5,033,066 shares of the company’s stock worth $338,765,000 after purchasing an additional 2,096,575 shares during the period. 72.36% of the stock is owned by institutional investors.

Monster Beverage Trading Up 1.2%

Monster Beverage stock opened at $95.83 on Friday. Monster Beverage Corporation has a 1-year low of $58.09 and a 1-year high of $96.06. The firm has a market capitalization of $93.72 billion, a price-to-earnings ratio of 46.29, a price-to-earnings-growth ratio of 3.12 and a beta of 0.54. The firm’s fifty day moving average price is $85.54 and its two-hundred day moving average price is $80.47.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Friday, May 8th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, research analysts forecast that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage declared that its Board of Directors has authorized a stock repurchase plan on Friday, May 15th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 0.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 88,700 shares of Monster Beverage stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the completion of the transaction, the insider owned 81,763 shares in the company, valued at approximately $7,028,347.48. The trade was a 52.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark J. Hall sold 54,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the sale, the director directly owned 299,246 shares of the company’s stock, valued at $25,678,299.26. This represents a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 178,700 shares of company stock worth $15,457,562 in the last quarter. 8.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MNST. Royal Bank Of Canada upped their price objective on shares of Monster Beverage from $86.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Piper Sandler raised their target price on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft boosted their target price on Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Argus upped their price target on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Finally, Citigroup increased their price target on Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus price target of $89.35.

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.