Mercer Global Advisors Inc. ADV Has $1.89 Million Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Mercer Global Advisors Inc. ADV decreased its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 35,963 shares of the company's stock after selling 6,607 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Monster Beverage were worth $1,890,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MNST. Geode Capital Management LLC boosted its holdings in shares of Monster Beverage by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company's stock worth $897,012,000 after acquiring an additional 1,383,914 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Monster Beverage by 9.3% during the fourth quarter. Invesco Ltd. now owns 8,590,994 shares of the company's stock worth $451,543,000 after purchasing an additional 734,406 shares during the last quarter. Norges Bank acquired a new stake in shares of Monster Beverage in the fourth quarter valued at $442,642,000. Northern Trust Corp raised its holdings in shares of Monster Beverage by 12.6% in the fourth quarter. Northern Trust Corp now owns 7,357,921 shares of the company's stock valued at $386,732,000 after buying an additional 825,489 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Monster Beverage by 659.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock worth $251,445,000 after buying an additional 4,231,063 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MNST. UBS Group upped their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday. Royal Bank of Canada reissued an "outperform" rating and issued a $59.00 target price on shares of Monster Beverage in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on Monster Beverage from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Friday. Truist Financial raised their price target on Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley upped their target price on shares of Monster Beverage from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Monster Beverage has a consensus rating of "Hold" and a consensus target price of $60.17.

Monster Beverage Stock Up 1.7 %

Shares of Monster Beverage stock traded up $1.00 during trading on Friday, reaching $61.14. The stock had a trading volume of 8,654,413 shares, compared to its average volume of 6,977,033. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $59.62 billion, a price-to-earnings ratio of 39.19, a P/E/G ratio of 2.28 and a beta of 0.63. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.83. The stock has a fifty day moving average price of $57.88 and a two-hundred day moving average price of $53.96.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The company had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the business earned $0.42 EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts predict that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $55.27, for a total transaction of $552,700.00. Following the sale, the chief financial officer now directly owns 72,273 shares of the company's stock, valued at approximately $3,994,528.71. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of Monster Beverage stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the completion of the transaction, the insider now directly owns 76,201 shares of the company's stock, valued at approximately $4,220,011.38. This trade represents a 54.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,316 shares of company stock worth $11,484,440 in the last three months. 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.