Hohimer Wealth Management LLC Decreases Stock Holdings in Monster Beverage Corporation (NASDAQ:MNST)

Hohimer Wealth Management LLC trimmed its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 28.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,753 shares of the company's stock after selling 5,807 shares during the period. Hohimer Wealth Management LLC's holdings in Monster Beverage were worth $863,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MNST. Norges Bank purchased a new position in Monster Beverage during the 4th quarter valued at about $442,642,000. CIBC Private Wealth Group LLC grew its stake in shares of Monster Beverage by 659.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock worth $251,445,000 after acquiring an additional 4,231,063 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Monster Beverage by 5,095.6% during the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock valued at $179,267,000 after acquiring an additional 3,004,391 shares in the last quarter. Champlain Investment Partners LLC bought a new position in shares of Monster Beverage during the fourth quarter valued at $121,575,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Monster Beverage in the fourth quarter worth about $110,942,000. Institutional investors own 72.36% of the company's stock.

Analyst Ratings Changes

MNST has been the subject of a number of recent analyst reports. TD Cowen boosted their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Redburn Atlantic downgraded Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. UBS Group increased their price objective on Monster Beverage from $62.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Morgan Stanley boosted their target price on Monster Beverage from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Finally, CICC Research raised shares of Monster Beverage from a "market perform" rating to an "outperform" rating and raised their price target for the company from $56.00 to $65.00 in a report on Monday, May 12th. 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 stock has a consensus rating of "Hold" and an average price target of $61.87.

Monster Beverage Stock Performance

Shares of MNST stock traded up $0.84 during trading hours on Monday, reaching $59.67. 5,659,975 shares of the company traded hands, compared to its average volume of 6,160,123. The firm has a 50-day moving average price of $62.45 and a 200 day moving average price of $56.84. The company has a market cap of $58.19 billion, a P/E ratio of 39.26, a P/E/G ratio of 2.09 and a beta of 0.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.37 and a quick ratio of 2.78. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45.

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

Insider Buying and Selling at Monster Beverage

In other news, insider Emelie Tirre sold 8,796 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the transaction, the insider directly owned 89,501 shares in the company, valued at $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage 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 sale, the chief financial officer directly owned 69,273 shares in the company, valued at $4,391,908.20. This trade represents a 28.05% decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is owned by company 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.