Victory Capital Management Inc. Lowers Holdings in Monster Beverage Corporation $MNST

Victory Capital Management Inc. trimmed its position in Monster Beverage Corporation (NASDAQ:MNST) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 789,212 shares of the company’s stock after selling 30,936 shares during the period. Victory Capital Management Inc. owned 0.08% of Monster Beverage worth $53,122,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MNST. Becker Capital Management Inc. raised its position in shares of Monster Beverage by 16.3% in the third quarter. Becker Capital Management Inc. now owns 3,791 shares of the company’s stock worth $255,000 after buying an additional 530 shares in the last quarter. Elo Mutual Pension Insurance Co increased its stake in Monster Beverage by 29.7% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 120,858 shares of the company’s stock worth $8,135,000 after acquiring an additional 27,651 shares during the last quarter. Journey Strategic Wealth LLC boosted its position in shares of Monster Beverage by 96.5% during the 3rd quarter. Journey Strategic Wealth LLC now owns 7,656 shares of the company’s stock valued at $515,000 after acquiring an additional 3,759 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Monster Beverage during the 3rd quarter valued at about $234,000. Finally, Aprio Wealth Management LLC bought a new position in shares of Monster Beverage in the third quarter worth approximately $221,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

MNST stock opened at $75.61 on Friday. The firm has a market cap of $73.87 billion, a P/E ratio of 38.97, a P/E/G ratio of 2.48 and a beta of 0.44. The firm’s fifty day moving average is $80.19 and its 200 day moving average is $72.90. Monster Beverage Corporation has a 52 week low of $54.00 and a 52 week high of $87.38.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Activity

In related news, Director Rodney C. Sacks sold 206,543 shares of the firm’s stock in a transaction that occurred 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Emelie Tirre sold 30,000 shares of Monster Beverage stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.31, for a total value of $2,199,300.00. Following the completion of the transaction, the insider directly owned 63,939 shares in the company, valued at $4,687,368.09. This trade represents a 31.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Roth Mkm reiterated a “neutral” rating and set a $70.00 target price on shares of Monster Beverage in a research report on Wednesday, December 3rd. Evercore raised their price objective on shares of Monster Beverage from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Bank of America upped their target price on shares of Monster Beverage from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Stifel Nicolaus raised their price target on Monster Beverage from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $96.00 price target (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Monster Beverage Profile

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.