Exchange Capital Management Inc. Sells 430 Shares of Monster Beverage Co. (NASDAQ:MNST)

Exchange Capital Management Inc. trimmed its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,804 shares of the company’s stock after selling 430 shares during the quarter. Monster Beverage makes up 1.4% of Exchange Capital Management Inc.’s investment portfolio, making the stock its 16th largest position. Exchange Capital Management Inc.’s holdings in Monster Beverage were worth $8,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Wealth Group LLC lifted its holdings in Monster Beverage by 6.1% in the 1st quarter. Cornerstone Wealth Group LLC now owns 54,938 shares of the company’s stock worth $3,257,000 after buying an additional 3,146 shares during the period. Founders Financial Securities LLC lifted its holdings in Monster Beverage by 5.1% in the 1st quarter. Founders Financial Securities LLC now owns 10,699 shares of the company’s stock worth $634,000 after buying an additional 516 shares during the period. Vicus Capital purchased a new stake in Monster Beverage in the 1st quarter worth approximately $256,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Monster Beverage by 2.3% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 48,536 shares of the company’s stock worth $2,877,000 after buying an additional 1,087 shares during the period. Finally, Asio Capital LLC lifted its holdings in Monster Beverage by 14.0% in the 1st quarter. Asio Capital LLC now owns 37,300 shares of the company’s stock worth $2,211,000 after buying an additional 4,584 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

NASDAQ MNST traded down $0.68 during midday trading on Tuesday, hitting $49.22. 3,236,087 shares of the company traded hands, compared to its average volume of 7,573,655. The company has a market cap of $51.27 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76. The company’s 50-day simple moving average is $52.25 and its 200-day simple moving average is $55.28. Monster Beverage Co. has a 52 week low of $47.13 and a 52 week high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its 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 company had revenue of $1.90 billion for 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 firm’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. On average, research analysts predict that Monster Beverage Co. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of Monster Beverage stock in a transaction dated 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 completion of the transaction, the director now owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 307,221 shares of company stock worth $16,070,374. Insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut Monster Beverage from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $66.00 to $59.00 in a research note on Thursday, April 25th. Piper Sandler raised their price objective on Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Truist Financial lowered Monster Beverage from a “buy” rating to a “sell” rating and reduced their target price for the stock from $65.00 to $46.00 in a report on Thursday, April 25th. UBS Group cut their price objective on Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, Wells Fargo & Company lowered their target price on Monster Beverage from $65.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.05.

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.