Envestnet Asset Management Inc. Has $203.08 Million Stock Position in Monster Beverage Corporation $MNST

Envestnet Asset Management Inc. lessened its stake in Monster Beverage Corporation (NASDAQ:MNST) by 1.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,017,127 shares of the company’s stock after selling 33,063 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Monster Beverage were worth $203,083,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Access Investment Management LLC bought a new stake in shares of Monster Beverage during the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. boosted its position in Monster Beverage by 508.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after buying an additional 315 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Monster Beverage in the 3rd quarter valued at $27,000. Salomon & Ludwin LLC bought a new position in Monster Beverage in the 2nd quarter valued at $28,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after buying an additional 415 shares during the period. 72.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MNST shares. Roth Mkm reaffirmed a “neutral” rating and set a $70.00 price target on shares of Monster Beverage in a research note on Wednesday, December 3rd. UBS Group reissued a “neutral” rating and set a $84.00 price objective (up from $75.00) on shares of Monster Beverage in a report on Wednesday, January 14th. Bank of America upped their target price on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, December 19th. TD Cowen reiterated a “hold” rating on shares of Monster Beverage in a research report on Thursday, January 8th. Finally, Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.86.

Monster Beverage Trading Up 0.4%

Monster Beverage stock opened at $81.75 on Friday. The firm has a market capitalization of $79.87 billion, a P/E ratio of 46.45, a PEG ratio of 2.11 and a beta of 0.45. The business has a 50-day moving average of $77.37 and a 200-day moving average of $69.91. Monster Beverage Corporation has a 1 year low of $46.04 and a 1 year high of $83.24.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a net margin of 21.65% and a return on equity of 27.76%. Monster Beverage’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. Research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total value of $2,741,782.54. Following the sale, the insider directly owned 21,993 shares in the company, valued at approximately $1,568,760.69. This trade represents a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Emelie Tirre sold 30,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the completion of the transaction, the insider directly owned 63,939 shares of the company’s stock, valued at $4,687,368.09. This trade represents a 31.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 274,981 shares of company stock worth $20,138,516. Company insiders own 8.30% of the company’s stock.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.