Ninety One UK Ltd Sells 29,682 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Ninety One UK Ltd lessened its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,525,561 shares of the company's stock after selling 29,682 shares during the period. Monster Beverage comprises 1.4% of Ninety One UK Ltd's investment portfolio, making the stock its 24th biggest holding. Ninety One UK Ltd owned 0.88% of Monster Beverage worth $498,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new stake in shares of Monster Beverage in the first quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of Monster Beverage in the fourth quarter valued at approximately $31,000. Park Square Financial Group LLC bought a new position in shares of Monster Beverage in the fourth quarter valued at approximately $36,000. Coppell Advisory Solutions LLC grew its holdings in shares of Monster Beverage by 259.2% in the fourth quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock valued at $36,000 after acquiring an additional 495 shares in the last quarter. Finally, CVA Family Office LLC grew its holdings in shares of Monster Beverage by 28.6% in the first quarter. CVA Family Office LLC now owns 1,519 shares of the company's stock valued at $89,000 after acquiring an additional 338 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Activity

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction dated Thursday, May 29th. The stock was 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 owned 69,273 shares of the company's stock, valued at $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Emelie Tirre sold 8,796 shares of Monster Beverage 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 sale, the insider directly owned 89,501 shares of the company's stock, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.30% of the company's stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded down $2.02 during midday trading on Wednesday, hitting $59.57. 9,962,928 shares of the company's stock were exchanged, compared to its average volume of 6,004,796. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45. The company has a current ratio of 3.37, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. The company has a market cap of $58.10 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 2.18 and a beta of 0.59. The business's fifty day moving average price is $62.49 and its two-hundred day moving average price is $56.67.

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 (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company's revenue was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MNST shares. JPMorgan Chase & Co. upped their target price on Monster Beverage from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Friday, May 9th. CICC Research raised Monster Beverage from a "market perform" rating to an "outperform" rating and upped their target price for the company from $56.00 to $65.00 in a report on Monday, May 12th. Roth Capital upped their target price on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. The Goldman Sachs Group upped their target price on Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a report on Friday, June 13th. Finally, Jefferies Financial Group increased their price objective on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $61.87.

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.