Cookson Peirce & Co. Inc. Takes Position in Monster Beverage Corporation $MNST

Cookson Peirce & Co. Inc. purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST) during the fourth quarter, Holdings Channel.com reports. The firm purchased 8,292 shares of the company’s stock, valued at approximately $636,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its position in Monster Beverage by 136.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after buying an additional 205 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after acquiring an additional 415 shares in the last quarter. Triumph Capital Management acquired a new stake in Monster Beverage in the third quarter worth about $36,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Monster Beverage in the third quarter worth about $45,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Monster Beverage in the third quarter worth about $42,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Monster Beverage stock opened at $88.47 on Tuesday. The business’s 50-day simple moving average is $80.60 and its two-hundred day simple moving average is $78.76. The company has a market cap of $86.52 billion, a PE ratio of 42.74, a PEG ratio of 2.96 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $90.44.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. As a group, analysts predict that Monster Beverage Corporation will post 2.31 EPS for the current fiscal year.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on MNST shares. UBS Group reissued a “neutral” rating and issued a $84.00 price target (up from $80.00) on shares of Monster Beverage in a report on Friday, May 8th. Argus raised their price target on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. lowered their price target on Monster Beverage from $81.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Piper Sandler raised their price target on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, Jefferies Financial Group set a $100.00 price target on Monster Beverage in a report on Wednesday, March 11th. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.05.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, 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 sale, the director owned 299,246 shares in the company, valued at approximately $25,678,299.26. The trade was a 15.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 7,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total value of $614,670.00. Following the sale, the chief financial officer owned 62,553 shares in the company, valued at approximately $5,492,778.93. The trade was a 10.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 159,700 shares of company stock worth $13,730,462. 8.10% of the stock is currently owned by insiders.

Monster Beverage Profile

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.