Private Advisor Group LLC Sells 6,216 Shares of Monster Beverage Co. (NASDAQ:MNST)

Private Advisor Group LLC lessened its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 10.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,356 shares of the company’s stock after selling 6,216 shares during the quarter. Private Advisor Group LLC’s holdings in Monster Beverage were worth $3,008,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Freedom Wealth Alliance LLC bought a new position in Monster Beverage during the fourth quarter worth about $25,000. Resurgent Financial Advisors LLC bought a new position in shares of Monster Beverage in the fourth quarter valued at approximately $26,000. Marquette Asset Management LLC bought a new position in shares of Monster Beverage in the second quarter valued at approximately $27,000. Ancora Advisors LLC bought a new position in shares of Monster Beverage in the first quarter valued at approximately $27,000. Finally, Quarry LP boosted its position in shares of Monster Beverage by 276.1% in the first quarter. Quarry LP now owns 504 shares of the company’s stock valued at $27,000 after acquiring an additional 370 shares during the period. Institutional investors own 64.60% of the company’s stock.

Monster Beverage Price Performance

NASDAQ:MNST opened at $54.82 on Tuesday. The firm’s 50-day moving average price is $52.84 and its 200-day moving average price is $56.08. The company has a market capitalization of $57.04 billion, a PE ratio of 36.79, a P/E/G ratio of 1.62 and a beta of 0.83. Monster Beverage Co. has a 1-year low of $47.13 and a 1-year high of $60.47.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Monster Beverage had a net margin of 22.62% and a return on equity of 20.50%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm posted $0.30 EPS. Monster Beverage’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts anticipate that Monster Beverage Co. will post 1.56 EPS for the current fiscal year.

Monster Beverage declared that its board has initiated a stock buyback plan on Wednesday, November 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

MNST has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 target price on shares of Monster Beverage in a research report on Monday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Monster Beverage from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, October 31st. Bank of America dropped their target price on shares of Monster Beverage from $63.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Wells Fargo & Company lifted their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Finally, MKM Partners lifted their target price on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, August 10th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.77.

Monster Beverage Company 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: Finished Product, Concentrate, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas and juice drinks, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.