Hsbc Holdings PLC Grows Stock Position in Monster Beverage Corporation $MNST

Hsbc Holdings PLC boosted its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 6.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,236,988 shares of the company’s stock after acquiring an additional 75,535 shares during the period. Hsbc Holdings PLC’s holdings in Monster Beverage were worth $94,887,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Advisory Group Advisory Services LLC raised its position in Monster Beverage by 2.8% during the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 4,841 shares of the company’s stock worth $371,000 after acquiring an additional 133 shares during the last quarter. Williams Jones Wealth Management LLC. grew its position in shares of Monster Beverage by 2.2% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 6,134 shares of the company’s stock valued at $470,000 after purchasing an additional 134 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Monster Beverage by 3.6% in the fourth quarter. D.A. Davidson & CO. now owns 4,071 shares of the company’s stock valued at $312,000 after purchasing an additional 141 shares during the last quarter. Earned Wealth Advisors LLC increased its stake in shares of Monster Beverage by 3.8% during the 4th quarter. Earned Wealth Advisors LLC now owns 4,171 shares of the company’s stock worth $320,000 after purchasing an additional 151 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its stake in shares of Monster Beverage by 1.4% during the 4th quarter. Sage Mountain Advisors LLC now owns 11,123 shares of the company’s stock worth $853,000 after purchasing an additional 154 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Monster Beverage from $87.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Stifel Nicolaus cut their price target on Monster Beverage from $92.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Monster Beverage from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Piper Sandler increased their price objective on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Finally, Bank of America dropped their price objective on Monster Beverage from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.35.

Insiders Place Their Bets

In other news, CEO Guy Carling sold 19,000 shares of Monster Beverage stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $90.90, for a total value of $1,727,100.00. Following the completion of the sale, the chief executive officer owned 21,863 shares of the company’s stock, valued at $1,987,346.70. The trade was a 46.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Kelly sold 7,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total value of $614,670.00. Following the completion of the transaction, the chief financial officer owned 62,553 shares of the company’s stock, valued at $5,492,778.93. The trade was a 10.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 178,700 shares of company stock worth $15,457,562 over the last ninety days. Company insiders own 8.10% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $91.34 on Monday. The firm has a market cap of $89.33 billion, a P/E ratio of 44.13, a price-to-earnings-growth ratio of 3.01 and a beta of 0.54. Monster Beverage Corporation has a 1 year low of $58.09 and a 1 year high of $93.92. The firm’s 50 day moving average price is $84.04 and its 200 day moving average price is $79.90.

Monster Beverage (NASDAQ:MNST) last issued 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 company had revenue of $2.32 billion during 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%.Monster Beverage’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. As a group, equities analysts predict that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage declared that its board has approved a share buyback plan on Friday, May 15th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Monster Beverage Company 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.