Wellington Management Group LLP Trims Position in Monster Beverage Corporation $MNST

Key Points

• Wellington Management Group LLP reduced its stake in Monster Beverage Corporation by 0.5%, owning 4,693,439 shares valued at approximately $274.66 million after selling 23,164 shares in the first quarter.
• Monster Beverage's stock has seen **analyst price target changes**, with Citigroup raising its target from $70.00 to $74.00, reflecting positive outlooks among various institutional investors.
• The company reported $0.52 earnings per share for the last quarter, exceeding estimates, with revenue up **11.1% year-over-year** at $2.11 billion.

Wellington Management Group LLP lessened its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 0.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,693,439 shares of the company's stock after selling 23,164 shares during the quarter. Wellington Management Group LLP owned about 0.48% of Monster Beverage worth $274,660,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Pinnacle Associates Ltd. increased its stake in Monster Beverage by 4.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock worth $286,000 after acquiring an additional 189 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after acquiring an additional 196 shares during the last quarter. Conning Inc. increased its stake in Monster Beverage by 3.9% in the 1st quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after acquiring an additional 219 shares during the last quarter. Eastern Bank increased its stake in Monster Beverage by 3.0% in the 1st quarter. Eastern Bank now owns 7,527 shares of the company's stock worth $440,000 after acquiring an additional 221 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its stake in Monster Beverage by 21.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock worth $77,000 after acquiring an additional 230 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Down 0.2%

Monster Beverage stock opened at $63.99 on Wednesday. The company has a market capitalization of $62.48 billion, a PE ratio of 39.75, a P/E/G ratio of 2.10 and a beta of 0.55. The firm has a fifty day simple moving average of $61.65 and a two-hundred day simple moving average of $58.80. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $66.75.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share 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 the consensus estimate of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, equities analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MNST has been the topic of a number of research analyst reports. Citigroup upped their target price on Monster Beverage from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. CICC Research upgraded Monster Beverage from a "market perform" rating to an "outperform" rating and raised their price target for the company from $56.00 to $65.00 in a research report on Monday, May 12th. Stifel Nicolaus assumed coverage on Monster Beverage in a research report on Thursday, June 12th. They set a "buy" rating and a $72.00 price target on the stock. Redburn Atlantic downgraded Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Monster Beverage presently has a consensus rating of "Hold" and an average price target of $65.10.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage 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 value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction 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 directly owned 51,191 shares of the company's stock, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.80% of the company's stock.

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.

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