Allspring Global Investments Holdings LLC Has $2.57 Million Stock Holdings in Monster Beverage Corporation (NASDAQ:MNST)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,543 shares of the company’s stock after selling 878 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Monster Beverage were worth $2,571,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MNST. Cambridge Investment Research Advisors Inc. grew its stake in shares of Monster Beverage by 76.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company’s stock worth $3,915,000 after acquiring an additional 28,932 shares in the last quarter. iA Global Asset Management Inc. grew its stake in shares of Monster Beverage by 5.8% in the 4th quarter. iA Global Asset Management Inc. now owns 113,866 shares of the company’s stock worth $5,985,000 after acquiring an additional 6,210 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Monster Beverage by 28.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company’s stock worth $2,136,000 after acquiring an additional 8,155 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Monster Beverage in the 1st quarter worth $460,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of Monster Beverage by 3.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 423,548 shares of the company’s stock worth $24,786,000 after acquiring an additional 15,493 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Activity

In other news, insider Emelie Tirre sold 8,796 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $62.46, for a total value of $549,398.16. Following the sale, the insider directly owned 89,501 shares of the company’s stock, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the completion of the sale, the chief financial officer directly owned 69,273 shares in the company, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on MNST. Piper Sandler upped their target price on shares of Monster Beverage from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Truist Financial upped their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upped their target price on shares of Monster Beverage from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. TD Cowen upped their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company upped their target price on shares of Monster Beverage from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, June 13th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.05.

Monster Beverage Price Performance

NASDAQ MNST opened at $62.57 on Monday. The company has a market cap of $61.02 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 2.23 and a beta of 0.59. Monster Beverage Corporation has a 52 week low of $43.32 and a 52 week 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’s 50-day simple moving average is $62.36 and its two-hundred day simple moving average is $56.55.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. Research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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