First Horizon Advisors Inc. Acquires 998 Shares of Monster Beverage Co. (NASDAQ:MNST)

First Horizon Advisors Inc. boosted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 16.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,128 shares of the company’s stock after acquiring an additional 998 shares during the quarter. First Horizon Advisors Inc.’s holdings in Monster Beverage were worth $411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Trust Direct Indexing L.P. increased its stake in shares of Monster Beverage by 26.9% in the fourth quarter. First Trust Direct Indexing L.P. now owns 21,560 shares of the company’s stock valued at $1,242,000 after buying an additional 4,566 shares during the period. Summit Financial LLC raised its holdings in Monster Beverage by 39.2% during the 4th quarter. Summit Financial LLC now owns 5,779 shares of the company’s stock worth $333,000 after purchasing an additional 1,628 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Monster Beverage by 2.3% in the 4th quarter. Victory Capital Management Inc. now owns 778,583 shares of the company’s stock worth $44,854,000 after purchasing an additional 17,741 shares during the period. Win Advisors Inc. bought a new stake in shares of Monster Beverage in the 4th quarter valued at $223,000. Finally, Hartford Funds Management Co LLC increased its position in shares of Monster Beverage by 6.3% during the fourth quarter. Hartford Funds Management Co LLC now owns 6,548 shares of the company’s stock worth $377,000 after buying an additional 389 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the completion of the sale, 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 accessible through this hyperlink. 9.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on MNST shares. Piper Sandler boosted their target price on shares of Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets dropped their price objective on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a research note on Friday. The Goldman Sachs Group raised their target price on Monster Beverage from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. UBS Group dropped their price target on Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded shares of Monster Beverage from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $59.00 in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.32.

Monster Beverage Price Performance

NASDAQ:MNST opened at $55.00 on Friday. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22. The company has a market cap of $57.30 billion, a PE ratio of 34.59, a PEG ratio of 2.25 and a beta of 0.74. The firm has a 50-day moving average of $56.84 and a 200-day moving average of $55.78.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 21.13%. Monster Beverage’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. On average, equities research analysts expect that Monster Beverage Co. will post 1.79 earnings per share for the current fiscal year.

About Monster Beverage

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.