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

1832 Asset Management L.P. lessened its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 44.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MNST. ICA Group Wealth Management LLC bought a new position in shares of Monster Beverage during the 4th quarter worth approximately $27,000. Tortoise Investment Management LLC lifted its position in shares of Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after buying an additional 396 shares during the period. Crewe Advisors LLC bought a new position in shares of Monster Beverage during the 1st quarter worth approximately $37,000. Rise Advisors LLC increased its holdings in Monster Beverage by 187.6% during the 1st quarter. Rise Advisors LLC now owns 716 shares of the company’s stock valued at $42,000 after purchasing an additional 467 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in Monster Beverage by 68.1% during the 1st quarter. Benjamin Edwards Inc. now owns 950 shares of the company’s stock valued at $56,000 after purchasing an additional 385 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Roth Mkm dropped their price target on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, June 12th. UBS Group dropped their price target on Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. BMO Capital Markets dropped their price target on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $66.00 to $63.00 and set a “buy” rating for the company in a report on Friday, June 14th. Finally, TD Cowen lowered their target price on 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 issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $59.33.

Insiders Place Their Bets

In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the transaction, the chief executive officer now directly owns 1,875,558 shares in the company, valued at $99,404,574. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at $99,404,574. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction dated 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 owns 68,167 shares in the company, valued at $3,534,458.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 307,221 shares of company stock worth $16,070,374. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Stock Performance

MNST stock traded up $0.90 during midday trading on Friday, hitting $51.00. 3,803,316 shares of the company’s stock were exchanged, compared to its average volume of 5,717,264. The stock’s fifty day moving average price is $50.64 and its 200-day moving average price is $54.37. The company has a market cap of $53.13 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 2.04 and a beta of 0.76. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, analysts expect that Monster Beverage Co. will post 1.75 EPS for the current year.

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.