Monster Beverage Corporation $MNST Shares Sold by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC reduced its stake in Monster Beverage Corporation by 9.8%, holding 63,204 shares valued at approximately $3.70 million at the end of the first quarter.
• Monster Beverage reported better-than-expected quarterly earnings with $0.52 EPS, surpassing analysts' estimates of $0.48, and revenue of $2.11 billion for the quarter.
• Despite the strong earnings report, Monster Beverage's stock has seen mixed analyst ratings, with target prices ranging from $55 to $73, reflecting a consensus rating of "Hold" and an average target price of $65.10.

Redwood Investment Management LLC lowered its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,204 shares of the company's stock after selling 6,895 shares during the period. Redwood Investment Management LLC's holdings in Monster Beverage were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Capital Management Inc. boosted its stake in Monster Beverage by 11.6% during the first quarter. Twin Capital Management Inc. now owns 5,213 shares of the company's stock worth $305,000 after buying an additional 540 shares during the period. Nisa Investment Advisors LLC boosted its stake in Monster Beverage by 2.4% during the first quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company's stock worth $18,475,000 after buying an additional 7,465 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Monster Beverage by 76.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company's stock valued at $3,915,000 after purchasing an additional 28,932 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Monster Beverage by 0.9% during the first quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company's stock valued at $75,455,000 after purchasing an additional 11,443 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Monster Beverage by 3.8% during the first quarter. Asset Management One Co. Ltd. now owns 423,548 shares of the company's stock valued at $24,786,000 after purchasing an additional 15,493 shares during the period. Institutional investors own 72.36% of the company's stock.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.30% of the stock is currently owned by company insiders.

Monster Beverage Price Performance

Monster Beverage stock traded up $0.29 during trading hours on Thursday, reaching $62.02. The stock had a trading volume of 4,328,982 shares, compared to its average volume of 7,093,673. The company has a market cap of $60.56 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 2.02 and a beta of 0.55. The business's 50 day moving average price is $61.60 and its 200-day moving average price is $59.49. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $66.75.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Analyst Ratings Changes

MNST has been the subject of a number of recent analyst reports. Redburn Atlantic lowered shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. The Goldman Sachs Group boosted their target price 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. Stifel Nicolaus initiated coverage on shares of Monster Beverage in a research note on Thursday, June 12th. They set a "buy" rating and a $72.00 target price for the company. UBS Group boosted their target price on shares of Monster Beverage from $64.00 to $67.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $65.10.

Monster Beverage Company 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.