Monster Beverage Corporation (NASDAQ:MNST) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 18.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. CreativeOne Wealth LLC increased its holdings in Monster Beverage by 1.9% in the fourth quarter. CreativeOne Wealth LLC now owns 11,838 shares of the company's stock valued at $622,000 after buying an additional 217 shares during the last quarter. Level Four Advisory Services LLC increased its holdings in Monster Beverage by 4.6% in the fourth quarter. Level Four Advisory Services LLC now owns 4,996 shares of the company's stock valued at $263,000 after buying an additional 220 shares during the last quarter. Dogwood Wealth Management LLC increased its holdings in Monster Beverage by 1.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 13,323 shares of the company's stock valued at $700,000 after buying an additional 233 shares during the last quarter. PDS Planning Inc increased its holdings in Monster Beverage by 5.7% in the fourth quarter. PDS Planning Inc now owns 4,340 shares of the company's stock valued at $228,000 after buying an additional 235 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Monster Beverage by 8.4% in the first quarter. Blue Trust Inc. now owns 3,086 shares of the company's stock valued at $181,000 after buying an additional 239 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

NASDAQ MNST opened at $61.71 on Friday. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03. Monster Beverage Corporation has a 52-week low of $43.32 and a 52-week high of $64.45. The business's 50-day moving average price is $61.95 and its 200 day moving average price is $56.15. The firm has a market cap of $60.18 billion, a P/E ratio of 40.60, a P/E/G ratio of 2.19 and a beta of 0.60.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) 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 firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the company posted $0.42 earnings per share. The business's revenue was down 2.3% on a year-over-year basis. On average, equities research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

MNST has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. increased 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. Truist Financial increased their target price on Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a report on Wednesday, April 23rd. Roth Mkm increased 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. Finally, Stifel Nicolaus assumed coverage on Monster Beverage in a report on Thursday, June 12th. They set a "buy" rating and a $72.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $62.05.

Insider Buying and Selling

In related news, CFO Thomas J. Kelly sold 27,000 shares of the firm's 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 transaction, the chief financial officer now owns 69,273 shares of the company's stock, valued at $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Emelie Tirre sold 8,796 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the sale, the insider now owns 89,501 shares of the company's stock, valued at approximately $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 8.30% of the company's stock.

Monster Beverage 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.

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