Elk River Wealth Management LLC Sells 1,771 Shares of Monster Beverage Co. (NASDAQ:MNST)

Elk River Wealth Management LLC cut its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,794 shares of the company’s stock after selling 1,771 shares during the period. Elk River Wealth Management LLC’s holdings in Monster Beverage were worth $4,845,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Spire Wealth Management acquired a new position in shares of Monster Beverage in the 4th quarter valued at $29,000. Mather Group LLC. increased its stake in Monster Beverage by 7.6% in the fourth quarter. Mather Group LLC. now owns 6,931 shares of the company’s stock valued at $364,000 after acquiring an additional 491 shares during the period. Choreo LLC raised its position in Monster Beverage by 11.6% in the fourth quarter. Choreo LLC now owns 16,451 shares of the company’s stock worth $864,000 after purchasing an additional 1,715 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Monster Beverage by 1.5% during the fourth quarter. Bleakley Financial Group LLC now owns 13,578 shares of the company’s stock worth $714,000 after purchasing an additional 203 shares during the period. Finally, Financial Advocates Investment Management lifted its stake in Monster Beverage by 3.9% during the fourth quarter. Financial Advocates Investment Management now owns 16,352 shares of the company’s stock worth $859,000 after purchasing an additional 607 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Roth Mkm upped their price objective on Monster Beverage from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, May 14th. Piper Sandler boosted their price target on Monster Beverage from $51.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Truist Financial increased their price objective on Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on shares of Monster Beverage from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, UBS Group upped their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Two equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.81.

Insider Activity at Monster Beverage

In related news, Director Mark J. Hall sold 48,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $54.89, for a total value of $2,634,720.00. Following the transaction, the director now directly owns 296,846 shares in the company, valued at $16,293,876.94. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the completion of the transaction, the chief financial officer now directly owns 69,273 shares in the company, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,796 shares of company stock worth $8,688,558 over the last 90 days. Insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $63.41 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The firm has a 50 day simple moving average of $60.41 and a 200 day simple moving average of $55.20. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $64.45. The firm has a market cap of $61.84 billion, a P/E ratio of 40.65, a P/E/G ratio of 2.28 and a beta of 0.60.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. Sell-side analysts predict that Monster Beverage Co. will post 1.62 earnings per share 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.