Goldstream Capital Management Ltd Sells 5,415 Shares of Monster Beverage Co. (NASDAQ:MNST)

Goldstream Capital Management Ltd trimmed its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 58.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,919 shares of the company's stock after selling 5,415 shares during the quarter. Goldstream Capital Management Ltd's holdings in Monster Beverage were worth $206,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MNST shares. Truist Financial lifted their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on Monster Beverage from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Royal Bank of Canada restated an "outperform" rating and set a $59.00 target price on shares of Monster Beverage in a report on Wednesday, January 22nd. Jefferies Financial Group upped their target price on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Monster Beverage from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Two 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $57.89.

Insider Activity at Monster Beverage

In other news, insider Emelie Tirre sold 91,316 shares of the business's stock in a transaction 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 completion of the sale, the insider now owns 76,201 shares of the company's stock, valued at $4,220,011.38. The trade was a 54.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $2,634,720.00. Following the completion of the transaction, the director now directly owns 296,846 shares in the company, valued at approximately $16,293,876.94. This represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,316 shares of company stock worth $11,484,440. 7.80% of the stock is owned by company insiders.

Monster Beverage Stock Performance

Shares of NASDAQ MNST traded down $0.13 during trading on Wednesday, reaching $59.15. 4,994,186 shares of the company traded hands, compared to its average volume of 7,074,149. The firm has a 50 day simple moving average of $56.11 and a 200-day simple moving average of $53.30. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $60.34. The stock has a market capitalization of $57.56 billion, a PE ratio of 37.92, a P/E/G ratio of 2.28 and a beta of 0.64. 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 data on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.80 billion. Equities research analysts anticipate that Monster Beverage Co. will post 1.62 earnings per share for the current year.

About Monster Beverage

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.