XTX Topco Ltd Trims Holdings in Monster Beverage Corporation $MNST

XTX Topco Ltd reduced its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 92.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,887 shares of the company’s stock after selling 50,583 shares during the quarter. XTX Topco Ltd’s holdings in Monster Beverage were worth $243,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MNST. Ashton Thomas Securities LLC boosted its position in Monster Beverage by 1.0% in the 2nd quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock valued at $1,064,000 after buying an additional 174 shares during the period. Accretive Wealth Partners LLC raised its stake in shares of Monster Beverage by 1.0% during the second quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock valued at $1,263,000 after acquiring an additional 190 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Monster Beverage by 2.9% in the second quarter. Rehmann Capital Advisory Group now owns 6,704 shares of the company’s stock valued at $420,000 after purchasing an additional 191 shares during the period. Blue Trust Inc. boosted its holdings in shares of Monster Beverage by 6.7% in the second quarter. Blue Trust Inc. now owns 3,293 shares of the company’s stock valued at $206,000 after purchasing an additional 207 shares during the period. Finally, Westside Investment Management Inc. grew its stake in Monster Beverage by 35.6% in the second quarter. Westside Investment Management Inc. now owns 865 shares of the company’s stock worth $54,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MNST shares. Roth Capital reaffirmed a “neutral” rating and set a $70.00 target price on shares of Monster Beverage in a research report on Wednesday, December 3rd. BMO Capital Markets reiterated a “market perform” rating and set a $73.00 target price (up from $53.00) on shares of Monster Beverage in a report on Wednesday, December 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $81.00 price target (up previously from $75.00) on shares of Monster Beverage in a report on Monday, December 1st. Wells Fargo & Company reiterated an “overweight” rating and set a $83.00 price objective (up from $75.00) on shares of Monster Beverage in a research note on Wednesday, December 3rd. Finally, Argus raised shares of Monster Beverage to a “strong-buy” rating in a report on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.45.

Insider Activity at Monster Beverage

In related news, insider Guy Carling sold 38,438 shares of Monster Beverage stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the sale, the insider directly owned 21,993 shares in the company, valued at $1,568,760.69. This trade represents a 63.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.80% of the stock is owned by insiders.

Monster Beverage Price Performance

Monster Beverage stock opened at $73.94 on Tuesday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $76.28. The business has a fifty day moving average price of $70.32 and a 200-day moving average price of $65.31. The stock has a market capitalization of $72.24 billion, a price-to-earnings ratio of 42.01, a PEG ratio of 2.22 and a beta of 0.48.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. On average, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

About Monster Beverage

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.