Monster Beverage Corporation (NASDAQ:MNST) Holdings Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,104 shares of the company's stock after selling 25,249 shares during the period. Victory Capital Management Inc. owned 0.07% of Monster Beverage worth $39,683,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MNST. Proficio Capital Partners LLC lifted its holdings in Monster Beverage by 33.4% during the fourth quarter. Proficio Capital Partners LLC now owns 5,569 shares of the company's stock worth $293,000 after acquiring an additional 1,395 shares during the period. HighTower Advisors LLC lifted its stake in shares of Monster Beverage by 2.7% in the 4th quarter. HighTower Advisors LLC now owns 57,289 shares of the company's stock valued at $3,011,000 after acquiring an additional 1,518 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Monster Beverage by 6,279.2% during the 4th quarter. Teacher Retirement System of Texas now owns 315,642 shares of the company's stock valued at $16,590,000 after purchasing an additional 310,694 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of Monster Beverage by 45.1% during the 4th quarter. Mizuho Securities USA LLC now owns 66,364 shares of the company's stock worth $3,488,000 after acquiring an additional 20,631 shares during the period. Finally, Sei Investments Co. raised its stake in Monster Beverage by 44.1% during the fourth quarter. Sei Investments Co. now owns 340,131 shares of the company's stock valued at $17,877,000 after buying an additional 104,118 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on MNST shares. Truist Financial lifted their price objective on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. TD Cowen boosted their price objective on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research note 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 note on Friday, May 9th. Bank of America increased their target price on Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Finally, Jefferies Financial Group increased their target price on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $61.91.

Monster Beverage Trading Up 0.3%

Shares of NASDAQ MNST traded up $0.16 during trading on Tuesday, reaching $59.59. The stock had a trading volume of 1,863,610 shares, compared to its average volume of 5,982,402. Monster Beverage Corporation has a fifty-two week low of $43.32 and a fifty-two week high of $64.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. The business's 50-day moving average price is $62.30 and its 200-day moving average price is $57.07. The company has a market cap of $58.11 billion, a P/E ratio of 39.23, a PEG ratio of 2.12 and a beta of 0.59.

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

Insider Transactions at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the sale, the insider directly owned 89,501 shares of the company's stock, valued at $5,590,232.46. This represents a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the sale, the chief financial officer owned 69,273 shares in the company, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is owned by 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.