Trust Point Inc. Lowers Stock Position in Monster Beverage Corporation (NASDAQ:MNST)

Trust Point Inc. reduced its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 51.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,645 shares of the company's stock after selling 4,845 shares during the quarter. Trust Point Inc.'s holdings in Monster Beverage were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Monster Beverage during the fourth quarter valued at about $442,642,000. CIBC Private Wealth Group LLC lifted its stake in shares of Monster Beverage by 659.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock valued at $251,445,000 after purchasing an additional 4,231,063 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Monster Beverage by 5,095.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock valued at $179,267,000 after purchasing an additional 3,004,391 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Monster Beverage during the 4th quarter worth about $121,575,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Monster Beverage during the 4th quarter worth approximately $110,942,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MNST has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, April 25th. CICC Research raised shares of Monster Beverage from a "market perform" rating to an "outperform" rating and raised their target price for the company from $56.00 to $65.00 in a research note on Monday, May 12th. Roth Capital upped their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Morgan Stanley increased their price target on Monster Beverage from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Finally, Citigroup raised their price objective on Monster Beverage from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Monster Beverage presently has an average rating of "Moderate Buy" and an average price target of $62.05.

Monster Beverage Price Performance

Shares of MNST opened at $62.78 on Wednesday. Monster Beverage Corporation has a 12 month low of $43.32 and a 12 month high of $64.45. 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 stock has a fifty day moving average price of $61.22 and a 200 day moving average price of $55.62. The company has a market cap of $61.23 billion, a P/E ratio of 41.30, a PEG ratio of 2.26 and a beta of 0.60.

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

Insider Buying and Selling at Monster Beverage

In related news, insider Emelie Tirre sold 8,796 shares of the stock in a transaction that occurred 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 now directly owns 89,501 shares of the company's stock, valued at $5,590,232.46. This represents a 8.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction 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 now directly owns 69,273 shares in the company, valued at $4,391,908.20. The trade was a 28.05% decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is owned by company insiders.

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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