Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,135,728 shares of the company's stock after selling 112,171 shares during the quarter. Envestnet Asset Management Inc. owned 0.32% of Monster Beverage worth $164,814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sustainable Insight Capital Management LLC purchased a new stake in shares of Monster Beverage during the 4th quarter worth $1,214,000. Van ECK Associates Corp boosted its holdings in Monster Beverage by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company's stock worth $8,101,000 after buying an additional 7,780 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Monster Beverage by 6.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company's stock worth $13,124,000 after buying an additional 15,611 shares during the period. Miracle Mile Advisors LLC purchased a new position in Monster Beverage in the fourth quarter valued at about $7,090,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Monster Beverage during the 3rd quarter valued at approximately $630,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MNST shares. JPMorgan Chase & Co. upped their price target on Monster Beverage from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. UBS Group raised their price target on Monster Beverage from $53.00 to $57.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wells Fargo & Company raised their target price on shares of Monster Beverage from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, Citigroup upped their price target on shares of Monster Beverage from $62.00 to $64.00 and gave the company a "buy" rating in a report on Friday, February 28th. Two 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $56.11.

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Monster Beverage Trading Up 0.7 %

Shares of NASDAQ:MNST traded up $0.38 during midday trading on Friday, reaching $58.15. The company's stock had a trading volume of 5,655,756 shares, compared to its average volume of 7,117,653. The firm has a market cap of $56.59 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64. The business has a 50 day moving average price of $54.38 and a 200 day moving average price of $52.92. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $60.34. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly 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). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.80 billion. Research analysts forecast that Monster Beverage Co. will post 1.62 EPS for the current year.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $55.27, for a total transaction of $552,700.00. Following the transaction, the chief financial officer now owns 72,273 shares of the company's stock, valued at $3,994,528.71. This trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Guy Carling sold 47,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $55.02, for a total transaction of $2,585,940.00. Following the sale, the insider now directly owns 21,993 shares of the company's stock, valued at $1,210,054.86. This represents a 68.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,316 shares of company stock worth $11,484,440. 7.80% of the stock is 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.