Parallel Advisors LLC Sells 4,602 Shares of Monster Beverage Co. (NASDAQ:MNST)

Parallel Advisors LLC decreased its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.9% in the 4th quarter, Holdings Channel reports. The fund owned 90,246 shares of the company’s stock after selling 4,602 shares during the quarter. Parallel Advisors LLC’s holdings in Monster Beverage were worth $4,743,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MNST. Janus Henderson Group PLC boosted its stake in Monster Beverage by 109.3% in the 3rd quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock worth $1,176,913,000 after purchasing an additional 11,779,162 shares during the period. Montrusco Bolton Investments Inc. boosted its stake in Monster Beverage by 250.9% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock worth $178,801,000 after purchasing an additional 2,480,291 shares during the period. State Street Corp boosted its stake in Monster Beverage by 6.9% in the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company’s stock worth $1,760,341,000 after purchasing an additional 2,168,379 shares during the period. Raymond James Financial Inc. bought a new position in Monster Beverage in the 4th quarter worth about $106,882,000. Finally, Holocene Advisors LP bought a new position in Monster Beverage in the 3rd quarter worth about $73,600,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $56.21 on Tuesday. The stock has a market cap of $54.70 billion, a price-to-earnings ratio of 36.03, a P/E/G ratio of 2.28 and a beta of 0.71. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.21. The stock’s 50-day moving average is $50.89 and its 200 day moving average is $51.85.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The firm had revenue of $1.81 billion for 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, sell-side analysts anticipate that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group raised their target price on Monster Beverage from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 target price on shares of Monster Beverage in a research note on Wednesday, January 22nd. BNP Paribas dropped their price target on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Thursday, December 19th. Needham & Company LLC reiterated a “hold” rating on shares of Monster Beverage in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their price target on Monster Beverage from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Two investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.83.

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of Monster Beverage stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total value of $5,057,080.08. Following the transaction, the insider now directly owns 76,201 shares of the company’s stock, valued at $4,220,011.38. The trade was a 54.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Guy Carling sold 47,000 shares of Monster Beverage stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.02, for a total value of $2,585,940.00. Following the completion of the transaction, the insider now directly owns 21,993 shares in the company, valued at $1,210,054.86. This trade represents a 68.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,316 shares of company stock valued at $10,931,740 in the last ninety days. Company insiders own 7.80% of the company’s stock.

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.