Cetera Investment Advisers Raises Holdings in Monster Beverage Co. (NASDAQ:MNST)

Cetera Investment Advisers boosted its position in Monster Beverage Co. (NASDAQ:MNST) by 1.7% in the 4th quarter, Holdings Channel reports. The fund owned 79,920 shares of the company’s stock after purchasing an additional 1,312 shares during the period. Cetera Investment Advisers’ holdings in Monster Beverage were worth $4,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MNST. Migdal Insurance & Financial Holdings Ltd. grew its stake in Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock worth $28,000 after acquiring an additional 203 shares during the period. Spire Wealth Management purchased a new stake in Monster Beverage in the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in Monster Beverage in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in Monster Beverage in the 4th quarter worth approximately $31,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Monster Beverage in the 4th quarter worth approximately $33,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total value of $5,057,080.08. Following the transaction, the insider now owns 76,201 shares in the company, valued at $4,220,011.38. The trade was a 54.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the completion of the transaction, the chief financial officer now owns 72,273 shares in the company, valued at $3,994,528.71. This represents a 12.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,316 shares of company stock worth $11,484,440 in the last quarter. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $61.00 on Thursday. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $59.49 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.28 and a beta of 0.63. The firm’s fifty day simple moving average is $58.21 and its 200 day simple moving average is $54.11. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $62.46.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts expect that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Roth Mkm boosted their price objective on shares of Monster Beverage from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday. Citigroup boosted their price objective on shares of Monster Beverage from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 14th. Wells Fargo & Company boosted their price objective on shares of Monster Beverage from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Truist Financial boosted their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the company a “sell” rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.50.

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.