Pallas Capital Advisors LLC Cuts Stake in Monster Beverage Corporation $MNST

Pallas Capital Advisors LLC cut its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 43.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,290 shares of the company’s stock after selling 12,588 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Monster Beverage were worth $1,096,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Monster Beverage in the second quarter worth approximately $544,584,000. Schroder Investment Management Group raised its holdings in Monster Beverage by 4,877.8% in the 2nd quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company’s stock worth $456,262,000 after acquiring an additional 7,137,552 shares during the last quarter. AQR Capital Management LLC lifted its position in Monster Beverage by 467.0% in the 2nd quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock valued at $422,996,000 after acquiring an additional 5,641,160 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in Monster Beverage during the 2nd quarter valued at $157,063,000. Finally, Marshall Wace LLP increased its holdings in shares of Monster Beverage by 1,126.9% in the 2nd quarter. Marshall Wace LLP now owns 2,121,758 shares of the company’s stock worth $132,907,000 after purchasing an additional 1,948,827 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 1.7%

MNST stock opened at $82.90 on Wednesday. The business’s 50-day moving average price is $78.51 and its 200-day moving average price is $71.26. The stock has a market cap of $81.00 billion, a P/E ratio of 47.10, a PEG ratio of 2.12 and a beta of 0.45. Monster Beverage Corporation has a twelve month low of $48.95 and a twelve month high of $83.24.

Wall Street Analysts Forecast Growth

MNST has been the topic of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and set a $84.00 price objective (up from $75.00) on shares of Monster Beverage in a research report on Wednesday, January 14th. Piper Sandler set a $85.00 price target on shares of Monster Beverage in a report on Wednesday, December 3rd. The Goldman Sachs Group lifted their price target on shares of Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. BMO Capital Markets restated a “market perform” rating and set a $73.00 price objective (up previously from $53.00) on shares of Monster Beverage in a research report on Wednesday, December 3rd. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $86.00 target price (up previously from $83.00) on shares of Monster Beverage in a report on Monday, January 5th. Fourteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $78.90.

Insiders Place Their Bets

In related news, insider Emelie Tirre sold 30,000 shares of Monster Beverage stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the sale, the insider owned 63,939 shares of the company’s stock, valued at approximately $4,687,368.09. This trade represents a 31.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rodney C. Sacks sold 206,543 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.58, for a total value of $15,197,433.94. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.30% of the company’s stock.

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.