Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its stake in Monster Beverage Co. (NASDAQ:MNST) by 7.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,095,980 shares of the company’s stock after selling 1,419,082 shares during the quarter. Wellington Management Group LLP’s holdings in Monster Beverage were worth $1,042,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MNST. Tower Research Capital LLC TRC increased its position in shares of Monster Beverage by 59.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company’s stock worth $7,609,000 after acquiring an additional 49,495 shares in the last quarter. Alaethes Wealth LLC purchased a new position in shares of Monster Beverage in the fourth quarter worth approximately $1,528,000. Louisiana State Employees Retirement System purchased a new position in shares of Monster Beverage in the fourth quarter worth approximately $7,340,000. Defender Capital LLC. increased its position in shares of Monster Beverage by 30.2% in the fourth quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock worth $21,378,000 after acquiring an additional 86,050 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Monster Beverage in the fourth quarter worth approximately $517,035,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MNST shares. Stifel Nicolaus decreased their price target on shares of Monster Beverage from $65.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 29th. UBS Group reduced their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Piper Sandler lifted their target price on shares of Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Redburn Atlantic began coverage on shares of Monster Beverage in a research note on Wednesday, March 6th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group lifted their target price on shares of Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.11.

Monster Beverage Stock Down 1.4 %

Monster Beverage stock traded down $0.69 on Friday, hitting $48.03. The company’s stock had a trading volume of 10,690,785 shares, compared to its average volume of 16,041,837. The firm has a market cap of $50.03 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76. The company has a fifty day moving average price of $53.27 and a 200-day moving average price of $55.67. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. Analysts anticipate that Monster Beverage Co. will post 1.77 EPS for the current year.

Insider Activity

In other news, Director Mark J. Hall sold 250,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $52.22, for a total value of $13,055,000.00. Following the sale, the director now owns 532,754 shares in the company, valued at approximately $27,820,413.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mark J. Hall sold 250,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $52.22, for a total value of $13,055,000.00. Following the sale, the director now owns 532,754 shares in the company, valued at approximately $27,820,413.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the sale, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 307,221 shares of company stock worth $16,070,374. Corporate insiders own 7.80% of the company’s stock.

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.