Rare Wolf Capital LLC Buys Shares of 8,436 Monster Beverage Corporation $MNST

Rare Wolf Capital LLC purchased a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST) during the fourth quarter, Holdings Channel.com reports. The fund purchased 8,436 shares of the company’s stock, valued at approximately $647,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Monster Beverage in the 4th quarter valued at about $691,104,000. Massachusetts Financial Services Co. MA boosted its position in Monster Beverage by 7,360.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock worth $474,695,000 after purchasing an additional 6,108,420 shares during the period. Wellington Management Group LLP boosted its position 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 purchasing an additional 4,858,109 shares during the period. State Street Corp increased its stake in shares of 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 in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of 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 in the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Activity

In related news, insider Emelie Tirre sold 88,700 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $85.96, for a total value of $7,624,652.00. Following the sale, the insider owned 81,763 shares in the company, valued at approximately $7,028,347.48. This trade represents a 52.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Guy Carling sold 19,000 shares of Monster Beverage stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $90.90, for a total value of $1,727,100.00. Following the sale, the chief executive officer directly owned 21,863 shares of the company’s stock, valued at $1,987,346.70. This represents a 46.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 178,700 shares of company stock worth $15,457,562. Company insiders own 8.10% of the company’s stock.

Monster Beverage Trading Down 0.3%

Shares of NASDAQ:MNST opened at $91.34 on Friday. The company has a 50 day moving average of $83.71 and a 200 day moving average of $79.79. The stock has a market cap of $89.33 billion, a P/E ratio of 44.13, a P/E/G ratio of 3.02 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $58.09 and a 12 month high of $93.92.

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

Monster Beverage declared that its Board of Directors has approved a stock buyback program on Friday, May 15th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 0.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently commented on MNST shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Sanford C. Bernstein initiated coverage on shares of Monster Beverage in a research note on Friday, June 12th. They issued a “market perform” rating and a $95.00 price objective for the company. Piper Sandler boosted their target price on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Argus increased their target price on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Morgan Stanley set a $103.00 price target on Monster Beverage and gave the stock an “overweight” rating in a report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and an average target price of $89.35.

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.