Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Capital World Investors

Capital World Investors reduced its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 10.9% in 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 20,157,348 shares of the company's stock after selling 2,463,882 shares during the period. Capital World Investors owned 2.07% of Monster Beverage worth $1,059,470,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Monster Beverage in the 4th quarter valued at approximately $442,642,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Monster Beverage by 659.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock valued at $251,445,000 after purchasing an additional 4,231,063 shares in the last quarter. Montrusco Bolton Investments Inc. grew its stake in shares of Monster Beverage by 250.9% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company's stock worth $178,801,000 after acquiring an additional 2,480,291 shares during the period. Champlain Investment Partners LLC purchased a new stake in Monster Beverage during the 4th quarter valued at $121,575,000. Finally, Raymond James Financial Inc. bought a new position in Monster Beverage in the fourth quarter valued at about $106,882,000. 72.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial boosted their price target on Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a report on Wednesday. Morgan Stanley lifted their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Needham & Company LLC reiterated a "hold" rating on shares of Monster Beverage in a research report on Friday, February 28th. Jefferies Financial Group raised their price objective on shares of Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Finally, UBS Group upped their target price on shares of Monster Beverage from $57.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage currently has an average rating of "Hold" and a consensus price target of $57.89.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded down $0.50 during midday trading on Thursday, reaching $58.59. 3,618,646 shares of the stock traded hands, compared to its average volume of 6,484,080. Monster Beverage Co. has a one year low of $43.32 and a one year high of $60.34. The stock has a market capitalization of $57.02 billion, a PE ratio of 37.56, a P/E/G ratio of 2.28 and a beta of 0.64. The company's 50 day moving average is $56.11 and its 200 day moving average is $53.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data 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 return on equity of 23.31% and a net margin of 21.66%. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.80 billion. On average, equities research analysts anticipate that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Insider Transactions at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the sale, the chief financial officer now directly owns 72,273 shares in the company, valued at $3,994,528.71. The trade was a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark J. Hall sold 12,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $54.50, for a total transaction of $654,000.00. Following the transaction, the director now directly owns 296,846 shares in the company, valued at $16,178,107. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,316 shares of company stock valued at $11,484,440. 7.80% 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.