Monster Beverage Corporation (NASDAQ:MNST) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC lowered its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 26.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 16,365 shares of the company’s stock after selling 5,934 shares during the quarter. Avior Wealth Management LLC’s holdings in Monster Beverage were worth $958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Monster Beverage by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company’s stock valued at $897,012,000 after buying an additional 1,383,914 shares in the last quarter. Invesco Ltd. raised its position in shares of Monster Beverage by 9.3% during the 4th quarter. Invesco Ltd. now owns 8,590,994 shares of the company’s stock worth $451,543,000 after purchasing an additional 734,406 shares during the period. Norges Bank acquired a new stake in shares of Monster Beverage during the 4th quarter worth approximately $442,642,000. Northern Trust Corp raised its position in shares of Monster Beverage by 12.6% during the 4th quarter. Northern Trust Corp now owns 7,357,921 shares of the company’s stock worth $386,732,000 after purchasing an additional 825,489 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Monster Beverage by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company’s stock worth $284,146,000 after purchasing an additional 493,914 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MNST. Piper Sandler increased their price target on Monster Beverage from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Citigroup increased their price target on Monster Beverage from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 14th. The Goldman Sachs Group increased their price target on Monster Beverage from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Wells Fargo & Company increased their price objective on Monster Beverage from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, June 13th. Finally, CICC Research raised Monster Beverage from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $56.00 to $65.00 in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and an average price target of $62.05.

Insider Transactions at Monster Beverage

In other news, insider Emelie Tirre sold 8,796 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the sale, the insider now directly owns 89,501 shares of the company’s stock, valued at $5,590,232.46. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas J. Kelly sold 27,000 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the sale, the chief financial officer now directly owns 69,273 shares of the company’s stock, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $63.09 on Friday. The stock has a fifty day moving average price of $61.53 and a two-hundred day moving average price of $55.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. The firm has a market cap of $61.53 billion, a P/E ratio of 41.51, a PEG ratio of 2.23 and a beta of 0.60. Monster Beverage Corporation has a 1 year low of $43.32 and a 1 year high of $64.45.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Research analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

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.