1832 Asset Management L.P. Sells 42,639 Shares of Monster Beverage Co. (NASDAQ:MNST)

1832 Asset Management L.P. decreased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 44.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 52,330 shares of the company’s stock after selling 42,639 shares during the quarter. 1832 Asset Management L.P.’s holdings in Monster Beverage were worth $3,102,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board lifted its position in Monster Beverage by 30.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,497,873 shares of the company’s stock valued at $88,794,000 after acquiring an additional 352,265 shares in the last quarter. JT Stratford LLC lifted its position in shares of Monster Beverage by 32.6% during the 1st quarter. JT Stratford LLC now owns 21,374 shares of the company’s stock worth $1,267,000 after buying an additional 5,253 shares in the last quarter. Capital International Sarl lifted its position in shares of Monster Beverage by 4.4% during the 1st quarter. Capital International Sarl now owns 187,879 shares of the company’s stock worth $11,137,000 after buying an additional 7,960 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Monster Beverage by 20.2% during the 1st quarter. Toronto Dominion Bank now owns 442,033 shares of the company’s stock worth $26,204,000 after buying an additional 74,347 shares in the last quarter. Finally, Capital International Ltd. CA lifted its position in shares of Monster Beverage by 0.3% during the 1st quarter. Capital International Ltd. CA now owns 191,971 shares of the company’s stock worth $11,380,000 after buying an additional 543 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

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

Monster Beverage Stock Performance

Monster Beverage stock traded up $0.90 during mid-day trading on Friday, reaching $51.00. The company’s stock had a trading volume of 3,803,316 shares, compared to its average volume of 5,717,264. The firm’s fifty day moving average price is $50.64 and its two-hundred day moving average price is $54.37. The company has a market capitalization of $53.13 billion, a P/E ratio of 32.08, a PEG ratio of 2.04 and a beta of 0.76. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. On average, research analysts predict that Monster Beverage Co. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler lifted their target price on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Bank of America dropped their target price on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. BMO Capital Markets dropped their target price on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. UBS Group dropped their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Finally, TD Cowen decreased their price target on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Monster Beverage presently has an average rating of “Hold” and a consensus target price of $59.33.

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.