Envestnet Portfolio Solutions Inc. Sells 17,844 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Envestnet Portfolio Solutions Inc. reduced its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 64,604 shares of the company's stock after selling 17,844 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Monster Beverage were worth $3,781,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. iA Global Asset Management Inc. lifted its stake in shares of Monster Beverage by 5.8% in the fourth quarter. iA Global Asset Management Inc. now owns 113,866 shares of the company's stock worth $5,985,000 after acquiring an additional 6,210 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Monster Beverage during the 4th quarter worth approximately $365,000. GF Fund Management CO. LTD. acquired a new position in shares of Monster Beverage in the 4th quarter worth approximately $9,688,000. Virtue Capital Management LLC bought a new stake in shares of Monster Beverage in the 4th quarter valued at $223,000. Finally, Siemens Fonds Invest GmbH boosted its stake in shares of Monster Beverage by 50.3% in the 4th quarter. Siemens Fonds Invest GmbH now owns 43,340 shares of the company's stock valued at $2,278,000 after purchasing an additional 14,510 shares during the last quarter. Institutional investors own 72.36% of the company's stock.

Insider Activity at Monster Beverage

In related news, insider Emelie Tirre sold 8,796 shares of the company's stock in a transaction on 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 now owns 89,501 shares in the company, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage 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 transaction, the chief financial officer now directly owns 69,273 shares in the company, valued at $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.30% of the stock is owned by insiders.

Monster Beverage Stock Down 2.2%

MNST stock traded down $1.37 during midday trading on Wednesday, reaching $62.20. 4,667,815 shares of the company's stock traded hands, compared to its average volume of 6,009,967. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average price is $61.72 and its 200-day moving average price is $55.95. Monster Beverage Corporation has a 52 week low of $43.32 and a 52 week high of $64.45. The company has a market cap of $60.66 billion, a price-to-earnings ratio of 40.92, a P/E/G ratio of 2.25 and a beta of 0.60.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.97 billion. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The business's revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. As a group, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on MNST. TD Cowen boosted their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wells Fargo & Company boosted their price objective on Monster Beverage from $67.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, June 13th. Piper Sandler raised their target price on Monster Beverage from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group lifted their target price on Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.