Covenant Partners LLC Sells 5,754 Shares of Monster Beverage Co. (NASDAQ:MNST)

Covenant Partners LLC decreased its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 58.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,150 shares of the company’s stock after selling 5,754 shares during the quarter. Covenant Partners LLC’s holdings in Monster Beverage were worth $218,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MNST. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock worth $28,000 after acquiring an additional 203 shares during the last quarter. Spire Wealth Management bought a new position in shares of Monster Beverage during the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Monster Beverage during the fourth quarter valued at about $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Monster Beverage in the fourth quarter worth about $30,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Monster Beverage in the fourth quarter worth about $33,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 1.4 %

MNST opened at $60.91 on Tuesday. 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 market cap of $59.40 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.28 and a beta of 0.63. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.29. The business has a fifty day simple moving average of $57.37 and a 200-day simple moving average of $53.77.

Monster Beverage (NASDAQ:MNST) last issued 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). The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations 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 earnings per share for the current year.

Insider Buying and Selling at Monster Beverage

In related news, insider Emelie Tirre sold 91,316 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the transaction, the insider now owns 76,201 shares of the company’s stock, valued at $4,220,011.38. This trade represents a 54.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the transaction, the chief financial officer now directly owns 72,273 shares in the company, valued at approximately $3,994,528.71. The trade was a 12.15 % decrease in their position. 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 ninety days. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Monster Beverage from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Truist Financial increased their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the company a “sell” rating in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Morgan Stanley increased 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. Finally, UBS Group boosted their price objective on Monster Beverage from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage currently has an average rating of “Hold” and a consensus target price of $58.89.

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.