Monster Beverage Corporation (NASDAQ:MNST) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 21.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 547,877 shares of the company's stock after selling 153,441 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Monster Beverage worth $31,700,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MNST. iA Global Asset Management Inc. increased its holdings in shares of Monster Beverage by 5.8% during the 4th quarter. iA Global Asset Management Inc. now owns 113,866 shares of the company's stock worth $5,985,000 after buying an additional 6,210 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Monster Beverage during the 4th quarter worth $365,000. Advisor Resource Council acquired a new stake in shares of Monster Beverage during the 1st quarter worth $460,000. GF Fund Management CO. LTD. acquired a new stake in shares of Monster Beverage during the 4th quarter worth $9,688,000. Finally, Virtue Capital Management LLC acquired a new stake in shares of Monster Beverage during the 4th quarter worth $223,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of research analyst reports. UBS Group upped their price objective on Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. 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 report on Wednesday, April 16th. Morgan Stanley upped their price target on shares of Monster Beverage from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. CICC Research raised shares of Monster Beverage from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $56.00 to $65.00 in a research report on Monday, May 12th. Finally, Roth Capital upped their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Monster Beverage has a consensus rating of "Moderate Buy" and a consensus price target of $62.05.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $61.71 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.37 and a quick ratio of 2.78. The firm has a 50-day moving average of $61.95 and a two-hundred day moving average of $56.15. The stock has a market cap of $60.18 billion, a P/E ratio of 40.60, a PEG ratio of 2.19 and a beta of 0.60. Monster Beverage Corporation has a 1-year low of $43.32 and a 1-year high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted 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. The company had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.97 billion. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. On average, research analysts expect 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 company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $62.46, for a total value of $549,398.16. Following the sale, the insider now owns 89,501 shares in the company, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the completion of the sale, the chief financial officer now owns 69,273 shares in the company, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by corporate insiders.

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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