Mather Group LLC. Cuts Position in Monster Beverage Corporation (NASDAQ:MNST)

Mather Group LLC. trimmed its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 8.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,348 shares of the company’s stock after selling 583 shares during the period. Mather Group LLC.’s holdings in Monster Beverage were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted 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 valued at $897,012,000 after acquiring an additional 1,383,914 shares during the last quarter. Invesco Ltd. raised its position in Monster Beverage by 9.3% during the fourth quarter. Invesco Ltd. now owns 8,590,994 shares of the company’s stock valued at $451,543,000 after purchasing an additional 734,406 shares during the period. Norges Bank bought a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $442,642,000. Northern Trust Corp boosted its holdings in shares of Monster Beverage by 12.6% in the 4th quarter. Northern Trust Corp now owns 7,357,921 shares of the company’s stock worth $386,732,000 after purchasing an additional 825,489 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Monster Beverage by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company’s stock valued at $284,146,000 after purchasing an additional 493,914 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $62.57 on Friday. The company has a current ratio of 3.37, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $62.28 and its 200-day moving average price is $56.41. The firm has a market cap of $61.02 billion, a P/E ratio of 41.16, a P/E/G ratio of 2.23 and a beta of 0.59. Monster Beverage Corporation has a 12 month low of $43.32 and a 12 month high of $64.45.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MNST has been the subject of a number of analyst reports. Piper Sandler raised their price target on Monster Beverage from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Stifel Nicolaus started coverage on shares of Monster Beverage in a report on Thursday, June 12th. They issued a “buy” rating and a $72.00 target price for the company. Truist Financial lifted their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research note on Wednesday, April 23rd. CICC Research raised shares of Monster Beverage from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $56.00 to $65.00 in a research report on Monday, May 12th. Finally, UBS Group boosted their target price on Monster Beverage from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.05.

Insider Buying and Selling

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the company’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the completion of the sale, the chief financial officer owned 69,273 shares in the company, valued at $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emelie Tirre sold 8,796 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $62.46, for a total value of $549,398.16. Following the sale, the insider directly owned 89,501 shares in the company, valued at $5,590,232.46. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by company insiders.

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.