Monster Beverage Corporation (NASDAQ:MNST) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 50.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,410 shares of the company's stock after purchasing an additional 11,920 shares during the period. Summit Trail Advisors LLC's holdings in Monster Beverage were worth $2,072,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Monster Beverage by 11.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 88,418 shares of the company's stock worth $5,174,000 after acquiring an additional 8,851 shares in the last quarter. Elevate Capital Advisors LLC raised its holdings in Monster Beverage by 6.3% during the first quarter. Elevate Capital Advisors LLC now owns 32,849 shares of the company's stock worth $1,922,000 after purchasing an additional 1,957 shares in the last quarter. Alta Advisers Ltd purchased a new stake in shares of Monster Beverage during the 1st quarter worth approximately $207,000. Amalgamated Bank lifted its position in shares of Monster Beverage by 1.7% during the 1st quarter. Amalgamated Bank now owns 149,434 shares of the company's stock worth $8,745,000 after buying an additional 2,566 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Monster Beverage by 2.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,823,069 shares of the company's stock valued at $106,686,000 after buying an additional 49,665 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analyst Ratings Changes

MNST has been the subject of a number of research reports. TD Cowen boosted their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research report on Friday, May 9th. Piper Sandler upped their target price on Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Roth Mkm raised their price target on Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group boosted their price objective on Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Morgan Stanley lifted their target price on shares of Monster Beverage from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. 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. According to data from MarketBeat, Monster Beverage presently has a consensus rating of "Moderate Buy" and an average price target of $62.05.

Insider Activity at Monster Beverage

In other news, CFO Thomas J. Kelly sold 27,000 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Emelie Tirre sold 8,796 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 89,501 shares in the company, valued at $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. Corporate insiders own 8.30% of the company's stock.

Monster Beverage Trading Down 0.8%

MNST stock traded down $0.50 during midday trading on Wednesday, hitting $63.04. The stock had a trading volume of 5,051,599 shares, compared to its average volume of 6,000,939. The company's 50-day moving average price is $62.12 and its 200 day moving average price is $56.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.37 and a quick ratio of 2.78. The firm has a market cap of $61.48 billion, a PE ratio of 41.47, a price-to-earnings-growth ratio of 2.25 and a beta of 0.59. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. On average, equities research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal 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.