Envestnet Asset Management Inc. Sells 6,881 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Envestnet Asset Management Inc. reduced its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 0.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,128,847 shares of the company's stock after selling 6,881 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.32% of Monster Beverage worth $183,100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MNST. CreativeOne Wealth LLC increased its position in Monster Beverage by 1.9% in the 4th quarter. CreativeOne Wealth LLC now owns 11,838 shares of the company's stock valued at $622,000 after buying an additional 217 shares in the last quarter. Conning Inc. lifted its stake in Monster Beverage by 3.9% during the 1st quarter. Conning Inc. now owns 5,853 shares of the company's stock valued at $343,000 after acquiring an additional 219 shares in the last quarter. Level Four Advisory Services LLC lifted its stake in Monster Beverage by 4.6% during the 4th quarter. Level Four Advisory Services LLC now owns 4,996 shares of the company's stock valued at $263,000 after acquiring an additional 220 shares in the last quarter. Dogwood Wealth Management LLC boosted its holdings in Monster Beverage by 1.8% during the 4th quarter. Dogwood Wealth Management LLC now owns 13,323 shares of the company's stock worth $700,000 after acquiring an additional 233 shares during the last quarter. Finally, PDS Planning Inc grew its stake in shares of Monster Beverage by 5.7% in the 4th quarter. PDS Planning Inc now owns 4,340 shares of the company's stock worth $228,000 after acquiring an additional 235 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Monster Beverage

In related news, CFO Thomas J. Kelly sold 27,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the completion of the transaction, the chief financial officer owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Emelie Tirre sold 8,796 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the sale, the insider owned 89,501 shares in the company, valued at $5,590,232.46. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

MNST stock traded down $2.02 during midday trading on Wednesday, reaching $59.57. 9,962,928 shares of the company's stock traded hands, compared to its average volume of 6,004,185. The firm has a market capitalization of $58.10 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 2.23 and a beta of 0.59. The company has a 50-day moving average price of $62.49 and a two-hundred day moving average price of $56.67. Monster Beverage Corporation has a 52 week low of $43.32 and a 52 week high of $64.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The firm's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on MNST shares. Morgan Stanley boosted their price target on shares of Monster Beverage from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. TD Cowen boosted their target price on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Bank of America upped their target price on Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a report on Friday, April 25th. CICC Research upgraded Monster Beverage from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $56.00 to $65.00 in a report on Monday, May 12th. Finally, UBS Group boosted their price objective on Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $61.87.

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.