Monster Beverage Co. (NASDAQ:MNST) Stake Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 54.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,249 shares of the company's stock after selling 59,645 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Monster Beverage were worth $2,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MNST. Norges Bank acquired a new stake in shares of Monster Beverage during the 4th quarter worth approximately $517,035,000. Ninety One UK Ltd grew its stake in Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company's stock valued at $373,519,000 after acquiring an additional 3,620,436 shares during the period. Capital Research Global Investors grew its stake in Monster Beverage by 40.6% in the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company's stock valued at $603,659,000 after acquiring an additional 3,026,657 shares during the period. TD Asset Management Inc grew its stake in Monster Beverage by 143.8% in the 4th quarter. TD Asset Management Inc now owns 3,209,873 shares of the company's stock valued at $184,921,000 after acquiring an additional 1,893,064 shares during the period. Finally, AMF Tjanstepension AB acquired a new stake in Monster Beverage in the 2nd quarter valued at $81,757,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Trading Up 2.5 %

MNST traded up $1.17 on Tuesday, hitting $48.30. The company had a trading volume of 7,419,391 shares, compared to its average volume of 7,271,633. The firm has a market cap of $50.32 billion, a P/E ratio of 30.38, a PEG ratio of 2.18 and a beta of 0.76. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The company's fifty day moving average price is $49.06 and its 200 day moving average price is $52.81. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, equities analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MNST. Citigroup dropped their price target on shares of Monster Beverage from $60.00 to $54.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets dropped their price target on shares of Monster Beverage from $56.00 to $54.00 and set a "market perform" rating on the stock in a research note on Thursday, August 8th. BNP Paribas initiated coverage on shares of Monster Beverage in a research note on Monday, June 24th. They set an "underperform" rating and a $48.00 target price on the stock. Piper Sandler lowered their target price on shares of Monster Beverage from $59.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.85.

Insider Activity at Monster Beverage

In related news, Director Mark Vidergauz sold 15,077 shares of the business's stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the sale, the director now directly owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the business's stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the sale, the director now directly owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of the business's stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the sale, the director now owns 532,754 shares in the company, valued at $27,820,413.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 307,221 shares of company stock worth $16,070,374. Company insiders own 7.80% of the company's stock.

Monster Beverage Company 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.