Capital Group Investment Management PTE. LTD. Sells 11,461 Shares of Monster Beverage Corporation $MNST

Capital Group Investment Management PTE. LTD. cut its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 34.3% during the third quarter, Holdings Channel reports. The institutional investor owned 21,905 shares of the company’s stock after selling 11,461 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Monster Beverage were worth $1,474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MNST. Armstrong Advisory Group Inc. raised its holdings in Monster Beverage by 49.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock valued at $30,000 after acquiring an additional 146 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Monster Beverage by 4.1% during the 3rd quarter. D.A. Davidson & CO. now owns 3,930 shares of the company’s stock worth $265,000 after purchasing an additional 155 shares in the last quarter. Premier Path Wealth Partners LLC increased its position in shares of Monster Beverage by 3.2% during the third quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company’s stock valued at $353,000 after purchasing an additional 161 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of Monster Beverage by 13.4% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 1,490 shares of the company’s stock valued at $93,000 after purchasing an additional 176 shares during the period. Finally, Meiji Yasuda Life Insurance Co raised its stake in shares of Monster Beverage by 1.9% in the third quarter. Meiji Yasuda Life Insurance Co now owns 10,489 shares of the company’s stock valued at $706,000 after purchasing an additional 194 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

Monster Beverage stock opened at $75.72 on Tuesday. The business’s fifty day moving average is $80.15 and its two-hundred day moving average is $73.10. The firm has a market cap of $73.98 billion, a P/E ratio of 39.03, a P/E/G ratio of 2.45 and a beta of 0.44. Monster Beverage Corporation has a 52 week low of $54.00 and a 52 week high of $87.38.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. On average, equities research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on MNST shares. Royal Bank Of Canada raised their target price on Monster Beverage from $83.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Monster Beverage in a report on Monday, December 29th. Citigroup increased their price objective on shares of Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Monster Beverage from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Zacks Research lowered shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Insider Buying and Selling

In other Monster Beverage news, insider Emelie Tirre sold 30,000 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the transaction, the insider owned 63,939 shares of the company’s stock, valued at approximately $4,687,368.09. This represents a 31.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.58, for a total value of $15,197,433.94. The SEC filing for this sale provides additional information. 7.80% of the stock is currently owned by corporate insiders.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.