Monster Beverage Corporation $MNST Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing LLC has significantly reduced its stake in Monster Beverage Corporation by 67.9%, now holding 7,953 shares valued at approximately $465,000.
• The company's latest quarterly earnings report showed an EPS of $0.52, exceeding analysts' expectations, with a revenue of $2.11 billion reflecting an 11.1% increase from the same quarter last year.
• Several analysts have adjusted their price targets for Monster Beverage, with Morgan Stanley raising theirs to $74.00, reflecting a positive outlook despite some analysts downgrading the stock's rating.

Inspire Investing LLC decreased its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 67.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,953 shares of the company's stock after selling 16,807 shares during the period. Inspire Investing LLC's holdings in Monster Beverage were worth $465,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Monster Beverage in the 1st quarter valued at $29,000. Park Square Financial Group LLC acquired a new stake in Monster Beverage during the 4th quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after purchasing an additional 196 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Monster Beverage during the 1st quarter worth $43,000. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in Monster Beverage by 21.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock worth $77,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Stock Up 1.4%

Shares of MNST opened at $64.69 on Friday. The company has a 50-day simple moving average of $61.69 and a 200-day simple moving average of $60.50. The company has a market capitalization of $63.17 billion, a PE ratio of 40.18, a P/E/G ratio of 2.22 and a beta of 0.54. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $66.75.

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

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.30% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Bank of America increased their price target on shares of Monster Beverage from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. raised their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, The Goldman Sachs Group raised their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.

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