Miracle Mile Advisors LLC Trims Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Miracle Mile Advisors LLC lowered its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,720 shares of the company's stock after selling 7,170 shares during the period. Miracle Mile Advisors LLC's holdings in Monster Beverage were worth $7,474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Monster Beverage by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company's stock worth $897,012,000 after buying an additional 1,383,914 shares during the last quarter. Invesco Ltd. lifted its holdings in Monster Beverage by 9.3% during the 4th quarter. Invesco Ltd. now owns 8,590,994 shares of the company's stock worth $451,543,000 after buying an additional 734,406 shares during the last quarter. Norges Bank acquired a new stake in shares of Monster Beverage during the 4th quarter worth approximately $442,642,000. Northern Trust Corp raised its position in shares of Monster Beverage by 12.6% during the 4th quarter. Northern Trust Corp now owns 7,357,921 shares of the company's stock worth $386,732,000 after purchasing an additional 825,489 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Monster Beverage by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company's stock worth $284,146,000 after purchasing an additional 493,914 shares during the period. Hedge funds and other institutional investors own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MNST shares. The Goldman Sachs Group set a $67.00 price target on Monster Beverage and gave the stock a "buy" rating in a research report on Friday, May 23rd. Truist Financial increased their price target on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. Roth Mkm increased their price target on Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Jefferies Financial Group increased their price target on Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Monster Beverage 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 thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $60.81.

Monster Beverage Stock Up 0.7%

Shares of MNST stock opened at $63.41 on Friday. The stock has a market cap of $61.84 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 2.28 and a beta of 0.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The business's fifty day moving average is $60.41 and its 200-day moving average is $55.21. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results 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. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.97 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The company's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. Equities analysts expect that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 value of $552,700.00. Following the completion of the sale, the chief financial officer now owns 72,273 shares of the company's stock, valued at $3,994,528.71. This trade represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark J. Hall sold 12,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $54.50, for a total value of $654,000.00. Following the completion of the sale, the director now directly owns 296,846 shares of the company's stock, valued at approximately $16,178,107. This trade represents a 3.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,796 shares of company stock worth $8,688,558 in the last three months. 8.30% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.