Monster Beverage Corporation (NASDAQ:MNST) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its holdings in Monster Beverage by 35.1%, selling 120,789 shares and leaving them with 223,018 shares valued at approximately $13 million.
• Monster Beverage reported quarterly earnings of $0.47 EPS, exceeding estimates of $0.46, despite a revenue decline of 2.3% year-over-year to $1.85 billion.
• Recent equity analysts' ratings for Monster Beverage vary, with 13 buy ratings, 9 holds, and 2 sells, and an average target price of $61.91.

Mackenzie Financial Corp reduced its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 35.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 223,018 shares of the company's stock after selling 120,789 shares during the quarter. Mackenzie Financial Corp's holdings in Monster Beverage were worth $13,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MNST. Twin Capital Management Inc. boosted its holdings in shares of Monster Beverage by 11.6% during the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company's stock valued at $305,000 after purchasing an additional 540 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Monster Beverage by 2.4% during the first quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company's stock valued at $18,475,000 after purchasing an additional 7,465 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Monster Beverage by 76.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company's stock valued at $3,915,000 after acquiring an additional 28,932 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Monster Beverage by 0.9% in the first quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company's stock valued at $75,455,000 after acquiring an additional 11,443 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Monster Beverage by 3.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 423,548 shares of the company's stock worth $24,786,000 after acquiring an additional 15,493 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the completion of the sale, the insider owned 89,501 shares in the company, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,711,800.00. Following the completion of the sale, the chief financial officer owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

MNST has been the topic of several research reports. Truist Financial increased their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. Jefferies Financial Group upped their price objective on Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. Piper Sandler upped their price objective on Monster Beverage from $51.00 to $54.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Rothschild & Co Redburn lowered Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price objective on the stock. in a research report on Wednesday, July 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $61.91.

Monster Beverage Stock Down 2.7%

Shares of MNST traded down $1.60 during midday trading on Tuesday, hitting $58.75. The company had a trading volume of 2,840,501 shares, compared to its average volume of 6,066,041. 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 Corporation has a 1 year low of $43.32 and a 1 year high of $64.45. The company's 50-day simple moving average is $61.77 and its 200-day simple moving average is $57.79. The firm has a market capitalization of $57.30 billion, a P/E ratio of 38.66, a P/E/G ratio of 2.12 and a beta of 0.55.

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 for the quarter, beating 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 company had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage 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.