Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 14.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,621,445 shares of the company's stock after selling 267,307 shares during the period. Ameriprise Financial Inc. owned approximately 0.17% of Monster Beverage worth $85,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MNST. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after purchasing an additional 203 shares during the period. Spire Wealth Management purchased a new position in Monster Beverage during the fourth quarter worth $29,000. SBI Securities Co. Ltd. bought a new position in Monster Beverage during the fourth quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at $30,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Monster Beverage in the 4th quarter worth about $33,000. 72.36% of the stock is currently owned by institutional investors.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the transaction, the chief financial officer now owns 72,273 shares of the company's stock, valued at approximately $3,994,528.71. This trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Emelie Tirre sold 91,316 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the sale, the insider now directly owns 76,201 shares in the company, valued at $4,220,011.38. This trade represents a 54.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,316 shares of company stock valued at $11,484,440 in the last three months. 7.80% of the stock is owned by insiders.

Monster Beverage Stock Up 1.7 %

MNST traded up $1.00 during trading on Friday, hitting $61.14. The stock had a trading volume of 8,654,413 shares, compared to its average volume of 6,977,033. The stock has a 50 day simple moving average of $57.88 and a two-hundred day simple moving average of $53.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.83. The company has a market capitalization of $59.62 billion, a PE ratio of 39.19, a PEG ratio of 2.28 and a beta of 0.63.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. On average, research analysts predict that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MNST. Bank of America increased their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Wells Fargo & Company raised their price target on Monster Beverage from $65.00 to $67.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group upped their price objective on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Morgan Stanley boosted their target price on shares of Monster Beverage from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Truist Financial raised their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $60.17.

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.