CoreCap Advisors LLC Makes New Investment in Monster Beverage Co. (NASDAQ:MNST)

CoreCap Advisors LLC acquired a new position in Monster Beverage Co. (NASDAQ:MNST) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,623 shares of the company’s stock, valued at approximately $266,000.

Other institutional investors have also added to or reduced their stakes in the company. Freedom Wealth Alliance LLC purchased a new stake in shares of Monster Beverage in the fourth quarter worth $25,000. Peoples Bank KS purchased a new stake in shares of Monster Beverage in the third quarter worth $26,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Monster Beverage in the fourth quarter worth $26,000. Ancora Advisors LLC purchased a new stake in shares of Monster Beverage during the first quarter valued at $27,000. Finally, Quarry LP boosted its position in shares of Monster Beverage by 276.1% during the first quarter. Quarry LP now owns 504 shares of the company’s stock valued at $27,000 after buying an additional 370 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $59.20 on Thursday. The stock has a market cap of $61.61 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 2.28 and a beta of 0.72. The stock has a 50 day moving average price of $57.20 and a 200-day moving average price of $55.39. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, February 28th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Sell-side analysts predict that Monster Beverage Co. will post 1.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Jefferies Financial Group increased their price objective on Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. increased their price objective on Monster Beverage from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. HSBC dropped their target price on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Finally, Morgan Stanley raised their target price on Monster Beverage from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.55.

Insider Activity at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the transaction, the director now owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.40% of the stock is owned by company insiders.

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.