Nisa Investment Advisors LLC Has $20.14 Million Position in Monster Beverage Corporation $MNST

Nisa Investment Advisors LLC cut its position in Monster Beverage Corporation (NASDAQ:MNST) by 11.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,264 shares of the company’s stock after selling 37,766 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Monster Beverage were worth $20,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its stake in shares of Monster Beverage by 222.4% in the third quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock valued at $3,385,000 after buying an additional 34,697 shares during the period. waypoint wealth counsel bought a new position in Monster Beverage during the 2nd quarter worth $314,000. Prudential PLC raised its holdings in Monster Beverage by 76.4% in the 2nd quarter. Prudential PLC now owns 108,930 shares of the company’s stock valued at $6,823,000 after acquiring an additional 47,165 shares in the last quarter. VestGen Advisors LLC lifted its position in shares of Monster Beverage by 449.4% during the 2nd quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock valued at $1,376,000 after acquiring an additional 17,974 shares during the period. Finally, Perigon Wealth Management LLC lifted its position in shares of Monster Beverage by 87.8% during the 3rd quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock valued at $2,163,000 after acquiring an additional 15,029 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup restated a “buy” rating and issued a $87.00 price target (up previously from $82.00) on shares of Monster Beverage in a research report on Wednesday, December 17th. Evercore ISI increased their price objective on shares of Monster Beverage from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Piper Sandler set a $85.00 target price on shares of Monster Beverage in a report on Wednesday, December 3rd. Morgan Stanley restated an “overweight” rating and issued a $87.00 target price (up from $81.00) on shares of Monster Beverage in a research report on Tuesday, December 23rd. Finally, Wall Street Zen upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

Monster Beverage Trading Up 1.0%

Shares of NASDAQ MNST opened at $77.34 on Friday. The company has a market cap of $75.56 billion, a price-to-earnings ratio of 43.94, a PEG ratio of 2.02 and a beta of 0.46. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $78.31. The stock has a 50-day moving average price of $73.91 and a two-hundred day moving average price of $67.39.

Monster Beverage (NASDAQ:MNST) last announced its quarterly 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 net margin of 21.65% and a return on equity of 27.76%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. On average, sell-side analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Rodney C. Sacks sold 206,543 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.58, for a total transaction of $15,197,433.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the sale, the insider owned 21,993 shares in the company, valued at $1,568,760.69. This represents a 63.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 274,981 shares of company stock valued at $20,138,516. 8.30% of the stock is currently owned by insiders.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.