TD Asset Management Inc Lowers Stock Holdings in Monster Beverage Corporation $MNST

Key Points

• TD Asset Management cut its Monster Beverage position by 21.9% in the fourth quarter, selling 748,782 shares and leaving it with 2,676,821 shares worth about $205.2 million.
• Monster Beverage reported better-than-expected quarterly results, with EPS of $0.58 versus $0.53 expected and revenue of $2.32 billion versus $2.16 billion expected, while revenue rose 22.6% from a year earlier.
• The company’s board approved a $500 million share repurchase program, but insiders have also been selling shares, including notable sales by Emelie Tirre and Director Mark J. Hall.

TD Asset Management Inc trimmed its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 21.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,676,821 shares of the company's stock after selling 748,782 shares during the period. TD Asset Management Inc owned approximately 0.27% of Monster Beverage worth $205,232,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Capital Advisory Group Advisory Services LLC lifted its holdings in shares of Monster Beverage by 2.8% during the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 4,841 shares of the company's stock valued at $371,000 after purchasing an additional 133 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Monster Beverage by 3.6% during the fourth quarter. D.A. Davidson & CO. now owns 4,071 shares of the company's stock valued at $312,000 after purchasing an additional 141 shares during the last quarter. Earned Wealth Advisors LLC lifted its holdings in shares of Monster Beverage by 3.8% during the fourth quarter. Earned Wealth Advisors LLC now owns 4,171 shares of the company's stock valued at $320,000 after purchasing an additional 151 shares during the last quarter. Sage Mountain Advisors LLC lifted its holdings in shares of Monster Beverage by 1.4% during the fourth quarter. Sage Mountain Advisors LLC now owns 11,123 shares of the company's stock valued at $853,000 after purchasing an additional 154 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its holdings in shares of Monster Beverage by 3.2% during the third quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company's stock valued at $353,000 after purchasing an additional 161 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Up 0.9%

Shares of MNST opened at $89.04 on Thursday. The company has a market capitalization of $87.08 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 2.90 and a beta of 0.54. The firm has a 50 day moving average of $79.63 and a 200 day moving average of $78.41. Monster Beverage Corporation has a twelve month low of $58.09 and a twelve month high of $89.86.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. On average, sell-side analysts expect that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage announced that its board has approved a share repurchase program on Friday, May 15th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 0.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.74, for a total value of $857,400.00. Following the completion of the sale, the insider owned 71,763 shares of the company's stock, valued at approximately $6,152,959.62. The trade was a 12.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 54,000 shares of Monster Beverage stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the completion of the sale, the director directly owned 299,246 shares of the company's stock, valued at approximately $25,678,299.26. This trade represents a 15.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 159,700 shares of company stock valued at $13,730,462. Company insiders own 8.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MNST. UBS Group reiterated a "neutral" rating and set a $84.00 target price (up from $80.00) on shares of Monster Beverage in a report on Friday, May 8th. Rothschild & Co Redburn upgraded shares of Monster Beverage from a "neutral" rating to a "buy" rating and lifted their target price for the company from $76.00 to $90.00 in a report on Wednesday, May 6th. Jefferies Financial Group set a $100.00 price target on shares of Monster Beverage in a research report on Wednesday, March 11th. Wells Fargo & Company raised their price target on shares of Monster Beverage from $87.00 to $97.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Finally, Evercore raised their price target on shares of Monster Beverage from $90.00 to $95.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Monster Beverage has a consensus rating of "Moderate Buy" and a consensus target price of $89.05.

Monster Beverage Company Profile

Monster Beverage Corporation NASDAQ: MNST is an American beverage company best known for its Monster Energy brand of energy drinks. The company's product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen's Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.

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