Sequoia Financial Advisors LLC Has $2.98 Million Holdings in Monster Beverage Corporation (NASDAQ:MNST)

Sequoia Financial Advisors LLC decreased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 18.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 50,841 shares of the company's stock after selling 11,591 shares during the period. Sequoia Financial Advisors LLC's holdings in Monster Beverage were worth $2,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MNST. Y Intercept Hong Kong Ltd acquired a new position in shares of Monster Beverage during the 4th quarter valued at $365,000. IFP Advisors Inc raised its position in Monster Beverage by 16.8% in the fourth quarter. IFP Advisors Inc now owns 4,528 shares of the company's stock valued at $244,000 after purchasing an additional 650 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Monster Beverage by 6,912.6% during the fourth quarter. Proficio Capital Partners LLC now owns 292,707 shares of the company's stock worth $15,385,000 after purchasing an additional 288,533 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Monster Beverage by 15.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,076 shares of the company's stock worth $109,000 after buying an additional 279 shares during the period. Finally, SVB Wealth LLC acquired a new position in Monster Beverage during the 4th quarter worth approximately $3,839,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the transaction, the chief financial officer owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Emelie Tirre sold 8,796 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the sale, the insider directly owned 89,501 shares of the company's stock, valued at $5,590,232.46. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded down $0.52 during trading on Wednesday, reaching $63.02. 2,129,610 shares of the company's stock traded hands, compared to its average volume of 5,991,056. 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 company has a 50 day moving average of $62.12 and a 200-day moving average of $56.29. Monster Beverage Corporation has a 12 month low of $43.32 and a 12 month high of $64.45. The stock has a market capitalization of $61.46 billion, a P/E ratio of 41.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.59.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the firm earned $0.42 EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group lifted their price target 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. CICC Research raised shares of Monster Beverage from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $56.00 to $65.00 in a research report on Monday, May 12th. Roth Capital raised their target price on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Finally, Bank of America increased their price target on Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.05.

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.