State of Alaska Department of Revenue Sells 18,765 Shares of Monster Beverage Co. (NASDAQ:MNST)

State of Alaska Department of Revenue lessened its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 12.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,766 shares of the company’s stock after selling 18,765 shares during the period. State of Alaska Department of Revenue’s holdings in Monster Beverage were worth $8,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Glenmede Trust Co. NA raised its stake in Monster Beverage by 69.1% in the third quarter. Glenmede Trust Co. NA now owns 33,121 shares of the company’s stock worth $1,754,000 after buying an additional 13,533 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Monster Beverage by 17.4% in the third quarter. Ameriprise Financial Inc. now owns 2,616,767 shares of the company’s stock worth $138,559,000 after buying an additional 387,242 shares in the last quarter. Alps Advisors Inc. purchased a new position in Monster Beverage in the third quarter worth $315,000. Lido Advisors LLC increased its position in shares of Monster Beverage by 28.8% during the third quarter. Lido Advisors LLC now owns 15,878 shares of the company’s stock worth $841,000 after purchasing an additional 3,549 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in shares of Monster Beverage by 2.9% in the 3rd quarter. Lake Street Advisors Group LLC now owns 10,819 shares of the company’s stock worth $573,000 after purchasing an additional 306 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In other news, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 sale, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,221 shares of company stock worth $16,070,374. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ MNST traded down $0.18 during trading on Wednesday, reaching $49.16. 4,172,023 shares of the company’s stock were exchanged, compared to its average volume of 7,570,869. The stock has a market cap of $51.21 billion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76. The company has a 50 day moving average price of $52.09 and a two-hundred day moving average price of $55.20. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts forecast that Monster Beverage Co. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on MNST. BNP Paribas assumed coverage on shares of Monster Beverage in a research note on Monday, June 24th. They set an “underperform” rating and a $48.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $66.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Piper Sandler increased their price objective on Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Stifel Nicolaus decreased their target price on Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a report on Monday, June 17th. Finally, Redburn Atlantic assumed coverage on shares of Monster Beverage in a report on Wednesday, March 6th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $60.05.

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.