Monster Beverage Corporation (NASDAQ:MNST) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Monster Beverage Corporation by 3.0%, owning approximately 4.09 million shares worth $239.38 million as of the 1st quarter.
• Monster Beverage reported $0.47 earnings per share (EPS), exceeding analysts' estimates by $0.01, despite a 2.3% decline in quarterly revenue compared to the previous year.
• Recent insider trading includes Emelie Tirre and CFO Thomas J. Kelly selling a combined total of 35,796 shares, reflecting significant decreases in their respective positions.

TD Asset Management Inc trimmed its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,090,539 shares of the company's stock after selling 128,540 shares during the quarter. TD Asset Management Inc owned about 0.42% of Monster Beverage worth $239,378,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Monster Beverage during the first quarter valued at about $29,000. Park Square Financial Group LLC acquired a new position in shares of Monster Beverage during the fourth quarter valued at about $36,000. Coppell Advisory Solutions LLC increased its holdings in shares of Monster Beverage by 259.2% during 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. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after buying an additional 196 shares during the period. Finally, CVA Family Office LLC increased its holdings in Monster Beverage by 28.6% in the 1st quarter. CVA Family Office LLC now owns 1,519 shares of the company's stock worth $89,000 after buying an additional 338 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

NASDAQ:MNST traded up $0.10 during trading hours on Wednesday, hitting $61.49. The company's stock had a trading volume of 1,153,513 shares, compared to its average volume of 5,993,136. The business's 50-day moving average is $62.04 and its two-hundred day moving average is $57.45. The company has a market capitalization of $59.97 billion, a PE ratio of 40.45, a PEG ratio of 2.16 and a beta of 0.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. Monster Beverage Corporation has a 52-week low of $43.32 and a 52-week high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its 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 company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. Monster Beverage's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. As a group, research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction of $1,711,800.00. Following the sale, the chief financial officer owned 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emelie Tirre sold 8,796 shares of the firm'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 completion of the sale, the insider directly owned 89,501 shares in the company, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MNST. Citigroup increased their price target on shares of Monster Beverage from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, April 14th. TD Cowen increased their price target 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. Bank of America increased their price target on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Jefferies Financial Group increased their price target on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Finally, Wells Fargo & Company increased their price target on shares of Monster Beverage from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, June 13th. Two investment 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $61.91.

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.