Monster Beverage Corporation $MNST Shares Sold by CoreCap Advisors LLC

CoreCap Advisors LLC cut its stake in Monster Beverage Corporation (NASDAQ:MNST) by 61.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,133 shares of the company’s stock after selling 17,520 shares during the quarter. CoreCap Advisors LLC’s holdings in Monster Beverage were worth $749,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Kathmere Capital Management LLC lifted its position in shares of Monster Beverage by 83.6% in the third quarter. Kathmere Capital Management LLC now owns 6,688 shares of the company’s stock valued at $450,000 after acquiring an additional 3,045 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Monster Beverage by 44.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 642,874 shares of the company’s stock worth $43,272,000 after buying an additional 198,090 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Monster Beverage by 4.1% in the third quarter. D.A. Davidson & CO. now owns 3,930 shares of the company’s stock valued at $265,000 after buying an additional 155 shares during the last quarter. Centennial Wealth Advisory LLC purchased a new position in shares of Monster Beverage in the third quarter worth about $205,000. Finally, Railway Pension Investments Ltd acquired a new position in Monster Beverage during the third quarter worth about $4,355,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Up 1.0%

Shares of MNST opened at $77.34 on Friday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $78.31. The company’s fifty day moving average is $73.91 and its two-hundred day moving average is $67.39. The firm has a market cap of $75.56 billion, a PE ratio of 43.94, a price-to-earnings-growth ratio of 2.02 and a beta of 0.46.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company posted $0.41 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Activity

In other news, Director Rodney C. Sacks sold 206,543 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.58, for a total transaction of $15,197,433.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Guy Carling sold 38,438 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the sale, the insider directly owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. This trade represents a 63.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 274,981 shares of company stock valued at $20,138,516 in the last three months. Corporate insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MNST shares. Wall Street Zen upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. The Goldman Sachs Group raised their price objective on shares of Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Roth Capital reissued a “neutral” rating and issued a $70.00 price target on shares of Monster Beverage in a research note on Wednesday, December 3rd. TD Cowen upped their price objective on Monster Beverage from $74.00 to $80.00 and gave the company a “hold” rating in a report on Thursday. Finally, BMO Capital Markets restated a “market perform” rating and issued a $73.00 target price (up previously from $53.00) on shares of Monster Beverage in a research report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and a consensus price target of $75.05.

About Monster Beverage

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.