Monster Beverage Corporation (NASDAQ:MNST) Stake Decreased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 21.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,604 shares of the company's stock after selling 17,844 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Monster Beverage were worth $3,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Monster Beverage during the fourth quarter valued at approximately $442,642,000. CIBC Private Wealth Group LLC increased its stake in shares of Monster Beverage by 659.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock valued at $251,445,000 after acquiring an additional 4,231,063 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Monster Beverage by 5,095.6% during the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock valued at $179,267,000 after acquiring an additional 3,004,391 shares during the period. Champlain Investment Partners LLC acquired a new position in shares of Monster Beverage during the fourth quarter valued at approximately $121,575,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Monster Beverage during the fourth quarter valued at approximately $110,942,000. Institutional investors own 72.36% of the company's stock.

Monster Beverage Trading Down 0.2%

Shares of NASDAQ:MNST opened at $63.09 on Friday. The firm has a fifty day moving average of $61.53 and a two-hundred day moving average of $55.80. The firm has a market capitalization of $61.53 billion, a P/E ratio of 41.51, a price-to-earnings-growth ratio of 2.23 and a beta of 0.60. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45. 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 issued its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. On average, equities analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Activity at Monster Beverage

In related news, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the sale, the chief financial officer now owns 69,273 shares of the company's stock, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emelie Tirre sold 8,796 shares of Monster Beverage stock in a transaction on 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 directly 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. 8.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Roth Capital raised their price objective on shares of Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Citigroup lifted their price target on shares of Monster Beverage from $64.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company lifted their price target on shares of Monster Beverage from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Monster Beverage has a consensus rating of "Moderate Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.