BI Asset Management Fondsmaeglerselskab A S Sells 49,620 Shares of Monster Beverage Corporation $MNST

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 235,698 shares of the company's stock after selling 49,620 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Monster Beverage were worth $18,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Capital Advisory Group Advisory Services LLC lifted its holdings in shares of Monster Beverage by 2.8% in the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 4,841 shares of the company's stock worth $371,000 after acquiring an additional 133 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Monster Beverage by 3.6% in the 4th quarter. D.A. Davidson & CO. now owns 4,071 shares of the company's stock worth $312,000 after acquiring an additional 141 shares during the last quarter. Earned Wealth Advisors LLC lifted its holdings in shares of Monster Beverage by 3.8% in the 4th quarter. Earned Wealth Advisors LLC now owns 4,171 shares of the company's stock worth $320,000 after acquiring an additional 151 shares during the last quarter. Sage Mountain Advisors LLC lifted its holdings in shares of Monster Beverage by 1.4% in the 4th quarter. Sage Mountain Advisors LLC now owns 11,123 shares of the company's stock worth $853,000 after acquiring an additional 154 shares during the last quarter. Finally, Sowell Financial Services LLC lifted its holdings in shares of Monster Beverage by 3.1% in the 4th quarter. Sowell Financial Services LLC now owns 5,622 shares of the company's stock worth $431,000 after acquiring an additional 167 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MNST. Stifel Nicolaus lowered their price objective on shares of Monster Beverage from $92.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Piper Sandler lifted their target price on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Monster Beverage from $88.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of Monster Beverage from $81.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, May 4th. Finally, Bank of America decreased their target price on shares of Monster Beverage from $100.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.05.

Monster Beverage Trading Up 1.1%

Shares of Monster Beverage stock opened at $89.55 on Friday. The company's fifty day simple moving average is $80.27 and its two-hundred day simple moving average is $78.60. The company has a market cap of $87.58 billion, a P/E ratio of 43.26, a PEG ratio of 2.95 and a beta of 0.54. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $90.44.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The company's quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. Analysts predict that Monster Beverage Corporation will post 2.31 EPS for the current fiscal year.

Monster Beverage announced that its board has authorized a share buyback program on Friday, May 15th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Monster Beverage

In other news, CFO Thomas J. Kelly sold 7,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total value of $614,670.00. Following the sale, the chief financial officer directly owned 62,553 shares of the company's stock, valued at $5,492,778.93. This represents a 10.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark J. Hall sold 54,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the completion of the sale, the director directly owned 299,246 shares in the company, valued at $25,678,299.26. This represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 159,700 shares of company stock valued at $13,730,462. 8.10% of the stock is currently owned by company insiders.

About Monster Beverage

Monster Beverage Corporation NASDAQ: MNST is an American beverage company best known for its Monster Energy brand of energy drinks. The company's product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen's Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.

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