Corient Private Wealth LLC Raises Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Corient Private Wealth LLC raised its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 19.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,086 shares of the company's stock after purchasing an additional 37,814 shares during the period. Corient Private Wealth LLC's holdings in Monster Beverage were worth $13,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in Monster Beverage in the fourth quarter valued at about $7,340,000. Defender Capital LLC. grew its stake in shares of Monster Beverage by 30.2% during the fourth quarter. Defender Capital LLC. now owns 371,077 shares of the company's stock worth $21,378,000 after acquiring an additional 86,050 shares during the last quarter. Norges Bank purchased a new stake in shares of Monster Beverage during the fourth quarter worth about $517,035,000. Harvest Fund Management Co. Ltd grew its stake in shares of Monster Beverage by 9.6% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 10,268 shares of the company's stock worth $590,000 after acquiring an additional 900 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in shares of Monster Beverage during the fourth quarter worth about $3,072,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Price Performance

NASDAQ:MNST traded up $0.06 during trading hours on Friday, reaching $52.70. The company had a trading volume of 7,137,661 shares, compared to its average volume of 6,545,818. Monster Beverage Co. has a 1-year low of $47.13 and a 1-year high of $61.22. The firm has a market cap of $54.90 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.20 and a beta of 0.74. The business's 50 day moving average price is $55.47 and its 200-day moving average price is $56.07.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. On average, analysts expect that Monster Beverage Co. will post 1.77 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the transaction, the director now directly owns 777,840 shares of the company's stock, valued at approximately $45,542,532. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.80% of the company's stock.

Analyst Upgrades and Downgrades

MNST has been the topic of a number of research analyst reports. Truist Financial lowered Monster Beverage from a "buy" rating to a "sell" rating and dropped their price target for the stock from $65.00 to $46.00 in a research note on Thursday, April 25th. UBS Group dropped their price target on Monster Beverage from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $64.00 to $63.00 and set a "buy" rating on the stock in a research note on Monday, February 26th. JPMorgan Chase & Co. lowered Monster Beverage from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $66.00 to $59.00 in a research report on Thursday, April 25th. Finally, Royal Bank of Canada upped their target price on Monster Beverage from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $61.32.

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.