Monster Beverage Corporation (NASDAQ:MNST) Stock Position Decreased by CWA Asset Management Group LLC

CWA Asset Management Group LLC lessened its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 21.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,460 shares of the company’s stock after selling 1,531 shares during the quarter. CWA Asset Management Group LLC’s holdings in Monster Beverage were worth $320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Monster Beverage by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company’s stock valued at $897,012,000 after purchasing an additional 1,383,914 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Monster Beverage by 9.3% during the 4th quarter. Invesco Ltd. now owns 8,590,994 shares of the company’s stock valued at $451,543,000 after purchasing an additional 734,406 shares in the last quarter. Norges Bank bought a new position in Monster Beverage during the fourth quarter valued at about $442,642,000. Northern Trust Corp raised its holdings in Monster Beverage by 12.6% during the fourth quarter. Northern Trust Corp now owns 7,357,921 shares of the company’s stock valued at $386,732,000 after buying an additional 825,489 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Monster Beverage by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company’s stock valued at $284,146,000 after buying an additional 493,914 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the topic of several recent research reports. Bank of America raised their target price on Monster Beverage from $57.00 to $66.00 and gave the company a “buy” rating in a report on Friday, April 25th. The Goldman Sachs Group raised their price objective on Monster Beverage from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Piper Sandler lifted their price target on shares of Monster Beverage from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Stifel Nicolaus began coverage on shares of Monster Beverage in a research report on Thursday, June 12th. They issued a “buy” rating and a $72.00 price target on the stock. Finally, Roth Capital lifted their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.05.

Insider Activity

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the company’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the sale, the chief financial officer now directly owns 69,273 shares in the company, valued at $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Emelie Tirre sold 8,796 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the sale, the insider now directly owns 89,501 shares in the company, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Trading Down 0.2%

Shares of MNST opened at $63.09 on Friday. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $61.53 billion, a price-to-earnings ratio of 41.51, a P/E/G ratio of 2.23 and a beta of 0.60. The stock’s 50-day moving average price is $61.53 and its 200 day moving average price is $55.80.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 20.27% and a return on equity of 27.46%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current 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.