Monster Beverage Corporation (NASDAQ:MNST) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 19.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 293,678 shares of the company's stock after selling 71,452 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Monster Beverage were worth $17,021,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Monster Beverage in the fourth quarter valued at $31,000. Proficio Capital Partners LLC boosted its holdings in Monster Beverage by 33.4% in the fourth quarter. Proficio Capital Partners LLC now owns 5,569 shares of the company's stock valued at $293,000 after acquiring an additional 1,395 shares during the last quarter. AlphaQuest LLC acquired a new position in Monster Beverage in the fourth quarter valued at $172,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Monster Beverage by 1.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 156,071 shares of the company's stock valued at $8,203,000 after acquiring an additional 2,315 shares during the last quarter. Finally, Independent Advisor Alliance boosted its holdings in Monster Beverage by 63.1% in the fourth quarter. Independent Advisor Alliance now owns 6,412 shares of the company's stock valued at $337,000 after acquiring an additional 2,480 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Stock Down 0.6%

Shares of NASDAQ MNST traded down $0.34 during midday trading on Friday, reaching $58.83. 5,843,605 shares of the company's stock were exchanged, compared to its average volume of 6,004,331. Monster Beverage Corporation has a 52-week low of $43.32 and a 52-week high of $64.45. The stock has a market capitalization of $57.37 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 2.10 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. The business's fifty day moving average price is $62.47 and its two-hundred day moving average price is $56.74.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its 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 business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Redburn Atlantic cut Monster Beverage from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $63.00 to $60.00 in a report on Wednesday. Piper Sandler lifted their target price on Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a report on Friday, May 9th. CICC Research upgraded Monster Beverage from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $56.00 to $65.00 in a report on Monday, May 12th. Roth Mkm raised their price objective on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Finally, Rothschild & Co Redburn lowered Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price objective on the stock. in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $61.87.

Insider Activity

In related news, CFO Thomas J. Kelly sold 27,000 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was 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 directly owned 69,273 shares of the company's stock, valued at $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Emelie Tirre sold 8,796 shares of the business's stock in a transaction dated Friday, May 16th. The shares were 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 of the company's stock, valued at approximately $5,590,232.46. This 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 insiders.

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.