SVB Wealth LLC Lowers Holdings in Monster Beverage Corporation $MNST

Key Points

• SVB Wealth LLC reduced its stake in Monster Beverage Corporation by 65.4%, owning 25,270 shares worth approximately $1.48 million after selling 47,775 shares in the first quarter.
• Institutional investors currently hold 72.36% of Monster Beverage's stock, with several firms recently increasing their stakes, including Coppell Advisory Solutions which raised its holdings by 259.2%.
• Monster Beverage's Q2 earnings report showed a profit of $0.52 per share on revenue of $2.11 billion, exceeding analyst expectations and reflecting an 11.1% year-over-year revenue growth.

SVB Wealth LLC reduced its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 65.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,270 shares of the company's stock after selling 47,775 shares during the period. SVB Wealth LLC's holdings in Monster Beverage were worth $1,479,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in Monster Beverage during the first quarter valued at $29,000. Coppell Advisory Solutions LLC raised its holdings in shares of Monster Beverage by 259.2% in the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock valued at $36,000 after acquiring an additional 495 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of Monster Beverage during the 4th quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after acquiring an additional 196 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Monster Beverage during the first quarter worth about $43,000. Institutional investors own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MNST. JPMorgan Chase & Co. boosted their price objective on Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Roth Mkm boosted their price objective on Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. The Goldman Sachs Group boosted their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $63.00 to $60.00 in a report on Wednesday, July 9th. Finally, Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the stock an "overweight" rating in a report on Friday, August 8th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $65.10.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Price Performance

Shares of MNST opened at $62.84 on Friday. The firm has a market cap of $61.36 billion, a P/E ratio of 39.03, a P/E/G ratio of 2.05 and a beta of 0.55. The stock has a 50 day simple moving average of $61.70 and a two-hundred day simple moving average of $59.15. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $66.75.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.Monster Beverage's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, equities analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.

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