Monster Beverage Corporation $MNST Shares Sold by DoubleLine ETF Adviser LP

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Monster Beverage Corporation by 19.6%, bringing its holdings to approximately $1.88 million after selling 7,851 shares in the first quarter.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., have recently increased their positions in Monster Beverage, indicating strong institutional interest in the stock.
• Monster Beverage's stock is currently trading at around $63.51, with a twelve-month high of $66.75 and a recent quarterly earnings report showing an 11.1% revenue increase year-over-year.

DoubleLine ETF Adviser LP lessened its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,189 shares of the company's stock after selling 7,851 shares during the period. DoubleLine ETF Adviser LP's holdings in Monster Beverage were worth $1,884,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in Monster Beverage during the 1st quarter valued at about $29,000. Park Square Financial Group LLC purchased a new stake in Monster Beverage during the 4th quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after buying an additional 196 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Monster Beverage in the 1st quarter valued at approximately $43,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of Monster Beverage by 21.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock valued at $77,000 after buying an additional 230 shares during the period. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director directly owned 51,191 shares in the company, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded up $0.12 during trading hours on Tuesday, reaching $63.14. The stock had a trading volume of 2,383,089 shares, compared to its average volume of 6,046,325. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $66.75. The firm's 50 day moving average is $61.63 and its 200-day moving average is $60.24. The stock has a market capitalization of $61.65 billion, a price-to-earnings ratio of 39.22, a P/E/G ratio of 2.17 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the firm posted $0.41 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler raised shares of Monster Beverage from a "neutral" rating to an "overweight" rating and increased their price target for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. The Goldman Sachs Group increased their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Royal Bank Of Canada set a $68.00 price target on shares of Monster Beverage and gave the company an "outperform" rating in a research note on Friday, August 8th. Roth Capital restated a "neutral" rating and issued a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Finally, CICC Research upgraded shares of Monster Beverage from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $56.00 to $65.00 in a report on Monday, May 12th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $65.10.

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.