UMB Bank n.a. Reduces Stake in Monster Beverage Co. (NASDAQ:MNST)

UMB Bank n.a. trimmed its stake in Monster Beverage Co. (NASDAQ:MNST) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,028 shares of the company’s stock after selling 195 shares during the quarter. UMB Bank n.a.’s holdings in Monster Beverage were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Monster Beverage by 5.3% in the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock valued at $8,101,000 after acquiring an additional 7,780 shares during the last quarter. Empower Advisory Group LLC lifted its stake in shares of Monster Beverage by 6.5% during the 4th quarter. Empower Advisory Group LLC now owns 1,262,180 shares of the company’s stock valued at $66,340,000 after buying an additional 77,278 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Monster Beverage by 5.8% during the 4th quarter. iA Global Asset Management Inc. now owns 113,866 shares of the company’s stock valued at $5,985,000 after buying an additional 6,210 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Monster Beverage during the 4th quarter valued at approximately $365,000. Finally, Blue Chip Partners LLC lifted its stake in shares of Monster Beverage by 3.1% during the 4th quarter. Blue Chip Partners LLC now owns 228,764 shares of the company’s stock valued at $12,024,000 after buying an additional 6,917 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $63.69 on Friday. The company’s fifty day moving average price is $60.79 and its 200-day moving average price is $55.45. The firm has a market capitalization of $62.11 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 2.28 and a beta of 0.60. Monster Beverage Co. has a one year low of $43.32 and a one year high of $64.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities research analysts anticipate that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In related news, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the transaction, the chief financial officer now owns 69,273 shares of the company’s stock, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emelie Tirre sold 8,796 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the transaction, the insider now directly owns 89,501 shares in the company, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of recent research reports. Jefferies Financial Group upped their price target on shares of Monster Beverage from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Morgan Stanley upped their price target on shares of Monster Beverage from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler upped their price target on shares of Monster Beverage from $51.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Truist Financial upped their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the company a “sell” rating in a research note on Wednesday, April 23rd. Finally, TD Cowen upped their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

Monster Beverage 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: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.