JT Stratford LLC Sells 2,762 Shares of Monster Beverage Corporation $MNST

JT Stratford LLC lessened its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,796 shares of the company’s stock after selling 2,762 shares during the period. JT Stratford LLC’s holdings in Monster Beverage were worth $2,036,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Pinnacle Associates Ltd. lifted its holdings in shares of Monster Beverage by 4.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock valued at $286,000 after purchasing an additional 189 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after buying an additional 196 shares during the last quarter. Conning Inc. raised its position in Monster Beverage by 3.9% in the 1st quarter. Conning Inc. now owns 5,853 shares of the company’s stock valued at $343,000 after buying an additional 219 shares during the last quarter. Eastern Bank raised its position in Monster Beverage by 3.0% in the 1st quarter. Eastern Bank now owns 7,527 shares of the company’s stock valued at $440,000 after buying an additional 221 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position 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 valued at $77,000 after buying an additional 230 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Down 0.8%

MNST stock opened at $64.12 on Tuesday. The firm has a market capitalization of $62.61 billion, a PE ratio of 39.83, a PEG ratio of 2.11 and a beta of 0.55. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $66.75. The business’s 50 day simple moving average is $61.63 and its 200 day simple moving average is $58.76.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. As a group, sell-side analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the business’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 transaction, the chief financial officer directly owned 69,273 shares in the company, valued at $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Roth Mkm lifted their target price on Monster Beverage from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, May 14th. Wells Fargo & Company set a $73.00 target price on Monster Beverage and gave the company an “overweight” rating in a research report on Friday, August 8th. CICC Research raised Monster Beverage from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $56.00 to $65.00 in a research report on Monday, May 12th. Roth Capital reissued a “neutral” rating and issued a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Finally, Morgan Stanley lifted their target price on Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.10.

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.