Bokf Na Sells 28,157 Shares of Monster Beverage Co. (NASDAQ:MNST)

BOKF NA trimmed its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 73.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,307 shares of the company's stock after selling 28,157 shares during the period. BOKF NA's holdings in Monster Beverage were worth $513,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Monster Beverage by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company's stock worth $897,012,000 after acquiring an additional 1,383,914 shares in the last quarter. Invesco Ltd. raised its stake in Monster Beverage by 9.3% in the fourth quarter. Invesco Ltd. now owns 8,590,994 shares of the company's stock valued at $451,543,000 after buying an additional 734,406 shares during the period. Norges Bank bought a new stake in Monster Beverage in the fourth quarter valued at approximately $442,642,000. Northern Trust Corp raised its stake in Monster Beverage by 12.6% in the fourth quarter. Northern Trust Corp now owns 7,357,921 shares of the company's stock valued at $386,732,000 after buying an additional 825,489 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of Monster Beverage by 659.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock valued at $251,445,000 after purchasing an additional 4,231,063 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Insider Activity at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the completion of the transaction, the chief financial officer now directly owns 72,273 shares of the company's stock, valued at $3,994,528.71. This trade represents a 12.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total value of $5,057,080.08. Following the transaction, the insider now directly owns 76,201 shares of the company's stock, valued at approximately $4,220,011.38. This represents a 54.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,316 shares of company stock valued at $11,484,440 in the last 90 days. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Price Performance

Shares of MNST stock traded down $1.13 during trading hours on Tuesday, reaching $60.23. The company's stock had a trading volume of 5,384,188 shares, compared to its average volume of 6,976,010. The firm's 50 day simple moving average is $58.00 and its 200-day simple moving average is $54.02. The company has a market capitalization of $58.74 billion, a price-to-earnings ratio of 38.61, a PEG ratio of 2.28 and a beta of 0.63. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $62.46. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the business posted $0.42 EPS. Monster Beverage's revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MNST shares. Jefferies Financial Group upped their target price on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. CICC Research raised Monster Beverage from a "market perform" rating to an "outperform" rating and upped their target price for the company from $56.00 to $65.00 in a research report on Monday. Truist Financial upped their target price on Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their target price on Monster Beverage from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $60.42.

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.