Miracle Mile Advisors LLC Sells 7,170 Shares of Monster Beverage Co. (NASDAQ:MNST)

Miracle Mile Advisors LLC trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,720 shares of the company's stock after selling 7,170 shares during the quarter. Miracle Mile Advisors LLC's holdings in Monster Beverage were worth $7,474,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Regent Peak Wealth Advisors LLC raised its stake in shares of Monster Beverage by 13.4% during the 1st quarter. Regent Peak Wealth Advisors LLC now owns 4,464 shares of the company's stock worth $261,000 after purchasing an additional 528 shares during the period. Sivia Capital Partners LLC purchased a new position in Monster Beverage in the first quarter valued at about $219,000. Procyon Advisors LLC grew its position in shares of Monster Beverage by 10.9% during the 1st quarter. Procyon Advisors LLC now owns 115,944 shares of the company's stock valued at $6,785,000 after acquiring an additional 11,396 shares during the period. Vest Financial LLC purchased a new stake in shares of Monster Beverage during the 1st quarter worth approximately $247,000. Finally, Annex Advisory Services LLC raised its holdings in shares of Monster Beverage by 7.0% in the 1st quarter. Annex Advisory Services LLC now owns 104,886 shares of the company's stock worth $6,138,000 after purchasing an additional 6,896 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded down $0.45 during midday trading on Wednesday, hitting $62.59. 4,645,493 shares of the company's stock were exchanged, compared to its average volume of 6,109,435. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The business's fifty day moving average price is $60.55 and its two-hundred day moving average price is $55.34. The company has a market cap of $61.04 billion, a price-to-earnings ratio of 40.12, a PEG ratio of 2.28 and a beta of 0.60. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The business had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.97 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, research analysts forecast that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark J. Hall sold 12,000 shares of Monster Beverage stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.50, for a total value of $654,000.00. Following the transaction, the director now owns 296,846 shares in the company, valued at approximately $16,178,107. The trade was a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Kelly sold 10,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the transaction, the chief financial officer now directly owns 72,273 shares in the company, valued at $3,994,528.71. This trade represents a 12.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,796 shares of company stock worth $6,053,838. Corporate insiders own 8.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MNST shares. Piper Sandler increased their price objective on Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Roth Capital upped their price target on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. TD Cowen boosted their price objective on Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company upped their price objective on shares of Monster Beverage from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Bank of America lifted their target price on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.81.

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.