Waldron Private Wealth LLC Lowers Position in Monster Beverage Co. (NASDAQ:MNST)

Waldron Private Wealth LLC lessened its stake in Monster Beverage Co. (NASDAQ:MNST) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,023 shares of the company’s stock after selling 341 shares during the period. Waldron Private Wealth LLC’s holdings in Monster Beverage were worth $650,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MNST. International Assets Investment Management LLC boosted its position in Monster Beverage by 1,220.2% in the 4th quarter. International Assets Investment Management LLC now owns 36,755 shares of the company’s stock worth $2,117,000 after purchasing an additional 33,971 shares in the last quarter. Savant Capital LLC lifted its position in shares of Monster Beverage by 4.6% during the 4th quarter. Savant Capital LLC now owns 5,200 shares of the company’s stock valued at $300,000 after buying an additional 227 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Monster Beverage by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 778,583 shares of the company’s stock valued at $44,854,000 after buying an additional 17,741 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Monster Beverage by 16.3% during the 4th quarter. First Horizon Advisors Inc. now owns 7,128 shares of the company’s stock valued at $411,000 after buying an additional 998 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Monster Beverage by 1,104.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 17,121 shares of the company’s stock valued at $987,000 after buying an additional 15,699 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST opened at $47.13 on Monday. The stock has a 50-day simple moving average of $49.10 and a 200-day simple moving average of $52.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The stock has a market capitalization of $46.17 billion, a PE ratio of 29.64, 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.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. Monster Beverage’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. BMO Capital Markets decreased their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Citigroup decreased their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. UBS Group decreased their price objective on Monster Beverage from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada decreased their price objective on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Wells Fargo & Company decreased their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.85.

Insider Buying and Selling

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the sale, the chief executive officer now owns 1,875,558 shares in the company, valued at $99,404,574. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the transaction, the director now owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the transaction, the chief executive officer now directly owns 1,875,558 shares in the company, valued at approximately $99,404,574. The disclosure for this sale can be found here. Insiders sold a total of 307,221 shares of company stock worth $16,070,374 over the last 90 days. 7.80% of the stock is owned by insiders.

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.