Franklin Resources Inc. Reduces Holdings in Monster Beverage Co. (NASDAQ:MNST)

Franklin Resources Inc. lowered its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,603,013 shares of the company's stock after selling 1,488,077 shares during the quarter. Franklin Resources Inc. owned 0.47% of Monster Beverage worth $241,934,000 as of its most recent SEC filing.

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

Monster Beverage Stock Performance

NASDAQ:MNST traded down $2.57 during midday trading on Friday, reaching $57.08. The stock had a trading volume of 10,386,288 shares, compared to its average volume of 7,004,753. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.66. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $53.00 and a two-hundred day simple moving average of $52.63. The stock has a market cap of $55.55 billion, a P/E ratio of 36.59, a P/E/G ratio of 2.28 and a beta of 0.71.

Remove Ads

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. On average, equities analysts expect that Monster Beverage Co. will post 1.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Monster Beverage from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Citigroup boosted their price target on shares of Monster Beverage from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company upped their target price on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday. 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 note on Monday, March 3rd. Finally, Morgan Stanley boosted their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $56.11.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the company's stock in a transaction dated 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 directly owns 72,273 shares in the company, valued at approximately $3,994,528.71. This represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Emelie Tirre sold 91,316 shares of Monster Beverage stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the sale, the insider now owns 76,201 shares of the company's stock, valued at approximately $4,220,011.38. The trade was a 54.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,316 shares of company stock worth $11,484,440 over the last three months. 7.80% of the stock is currently owned by corporate 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.