Monster Beverage Co. (NASDAQ:MNST) Position Lessened by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 312,842 shares of the company's stock after selling 7,351 shares during the period. Corebridge Financial Inc.'s holdings in Monster Beverage were worth $16,443,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. raised its stake in Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock valued at $28,000 after purchasing an additional 203 shares during the last quarter. Spire Wealth Management acquired a new position in shares of Monster Beverage in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in shares of Monster Beverage during the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in Monster Beverage during the fourth quarter worth approximately $31,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Monster Beverage in the 4th quarter worth approximately $33,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Down 1.2 %

MNST traded down $0.72 on Friday, reaching $57.86. The company's stock had a trading volume of 4,464,769 shares, compared to its average volume of 6,988,399. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $59.56. The business's 50 day moving average is $52.19 and its 200 day moving average is $52.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The stock has a market cap of $56.31 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71.

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Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.80 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. As a group, research analysts forecast that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark J. Hall sold 48,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $54.89, for a total transaction of $2,634,720.00. Following the transaction, the director now directly owns 296,846 shares in the company, valued at $16,293,876.94. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction on Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 208,316 shares of company stock valued at $11,484,440 in the last ninety days. Corporate insiders own 7.80% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MNST. Needham & Company LLC restated a "hold" rating on shares of Monster Beverage in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised their price target on Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Morgan Stanley increased their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Royal Bank of Canada restated an "outperform" rating and issued a $59.00 target price on shares of Monster Beverage in a report on Wednesday, January 22nd. Finally, BNP Paribas cut their price target on shares of Monster Beverage from $46.00 to $45.00 and set an "underperform" rating on the stock in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of "Hold" and a consensus price target of $55.83.

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.