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

Wellington Management Group LLP decreased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 7.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,095,980 shares of the company’s stock after selling 1,419,082 shares during the quarter. Wellington Management Group LLP owned about 1.74% of Monster Beverage worth $1,042,509,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Headinvest LLC purchased a new position in Monster Beverage in the 3rd quarter worth $28,000. Tortoise Investment Management LLC raised its stake in Monster Beverage by 360.0% in the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares during the last quarter. Quent Capital LLC raised its stake in Monster Beverage by 40.8% in the 4th quarter. Quent Capital LLC now owns 1,180 shares of the company’s stock worth $68,000 after acquiring an additional 342 shares during the last quarter. Annapolis Financial Services LLC raised its stake in Monster Beverage by 272.5% in the 4th quarter. Annapolis Financial Services LLC now owns 1,542 shares of the company’s stock worth $89,000 after acquiring an additional 1,128 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel raised its stake in shares of Monster Beverage by 2,653.6% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,542 shares of the company’s stock valued at $89,000 after buying an additional 1,486 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now owns 1,875,558 shares in the company, valued at $99,404,574. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Vidergauz sold 15,077 shares of the 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 sale, the director now owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 307,221 shares of company stock worth $16,070,374. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Stock Down 1.4 %

NASDAQ MNST traded down $0.69 on Friday, reaching $48.03. The stock had a trading volume of 10,690,785 shares, compared to its average volume of 16,041,837. The firm has a market capitalization of $50.03 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 1.81 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. The stock has a fifty day moving average price of $53.27 and a two-hundred day moving average price of $55.67.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that Monster Beverage Co. will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MNST. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of Monster Beverage in a research note on Friday. Jefferies Financial Group lifted their price target on Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Piper Sandler lifted their price target on Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. UBS Group cut their price target on Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Finally, Truist Financial lowered Monster Beverage from a “buy” rating to a “sell” rating and cut their price target for the company from $65.00 to $46.00 in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.11.

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.