Cerity Partners LLC Lowers Position in Monster Beverage Corporation (NASDAQ:MNST)

Cerity Partners LLC lessened its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 512,862 shares of the company's stock after selling 27,971 shares during the period. Cerity Partners LLC owned 0.05% of Monster Beverage worth $30,013,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MNST. Wayfinding Financial LLC bought a new position in Monster Beverage in the first quarter valued at about $29,000. Park Square Financial Group LLC acquired a new stake in Monster Beverage in the 4th quarter valued at approximately $36,000. Coppell Advisory Solutions LLC raised its position in Monster Beverage by 259.2% in the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock valued at $36,000 after buying an additional 495 shares during the last quarter. CVA Family Office LLC raised its position in Monster Beverage by 28.6% in the 1st quarter. CVA Family Office LLC now owns 1,519 shares of the company's stock valued at $89,000 after buying an additional 338 shares during the last quarter. Finally, Menard Financial Group LLC bought a new position in Monster Beverage in the fourth quarter valued at approximately $101,000. Institutional investors own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

MNST has been the topic of several analyst reports. UBS Group upped their price target on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Piper Sandler boosted their price target on Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Stifel Nicolaus initiated coverage on Monster Beverage in a research note on Thursday, June 12th. They issued a "buy" rating and a $72.00 price target for the company. Citigroup lifted their price objective on Monster Beverage from $64.00 to $70.00 and gave the company a "buy" rating in a report on Monday, April 14th. Finally, Morgan Stanley lifted their price objective on Monster Beverage from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.87.

Insider Activity

In related news, CFO Thomas J. Kelly sold 27,000 shares of the company'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 sale, the chief financial officer owned 69,273 shares in the company, valued at $4,391,908.20. This represents a 28.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emelie Tirre sold 8,796 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the transaction, the insider directly owned 89,501 shares in the company, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Trading Down 0.6%

Shares of NASDAQ MNST traded down $0.34 during trading on Friday, reaching $58.83. The company had a trading volume of 5,843,605 shares, compared to its average volume of 6,007,264. The company's fifty day moving average price is $62.45 and its 200-day moving average price is $56.81. Monster Beverage Corporation has a 12 month low of $43.32 and a 12 month high of $64.45. The stock has a market cap of $57.37 billion, a P/E ratio of 38.70, a PEG ratio of 2.09 and a beta of 0.59. 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 (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating 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 in the previous year, the company posted $0.42 EPS. The business's revenue was down 2.3% on a year-over-year basis. As a group, research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.