Voya Investment Management LLC Reduces Stock Position in Monster Beverage Corporation $MNST

by · The Cerbat Gem

Voya Investment Management LLC cut its holdings in Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,207 shares of the company’s stock after selling 14,971 shares during the quarter. Voya Investment Management LLC’s holdings in Monster Beverage were worth $16,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. Prudential PLC lifted its stake in Monster Beverage by 76.4% during 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 during the period. waypoint wealth counsel purchased a new position in shares of Monster Beverage during the second quarter valued at approximately $314,000. VestGen Advisors LLC raised its holdings in shares of Monster Beverage by 449.4% during the second quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock valued at $1,376,000 after purchasing an additional 17,974 shares during the last quarter. Swiss National Bank lifted its position in Monster Beverage by 7.4% during the second quarter. Swiss National Bank now owns 2,209,500 shares of the company’s stock valued at $138,403,000 after purchasing an additional 152,300 shares during the period. Finally, OMNI 360 Wealth Inc. purchased a new stake in Monster Beverage in the second quarter worth approximately $365,000. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

NASDAQ MNST opened at $77.66 on Tuesday. The business’s fifty day moving average is $71.69 and its 200 day moving average is $66.10. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $77.93. The company has a market capitalization of $75.88 billion, a PE ratio of 44.13, a price-to-earnings-growth ratio of 2.29 and a beta of 0.48.

Monster Beverage (NASDAQ:MNST – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insiders Place Their Bets

In related news, insider Guy Carling sold 38,438 shares of the company’s stock in a transaction 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 transaction, the insider owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. This represents a 63.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rodney C. Sacks sold 206,543 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.58, for a total value of $15,197,433.94. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 274,981 shares of company stock worth $20,138,516. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MNST shares. Jefferies Financial Group reiterated a “buy” rating and set a $79.00 target price on shares of Monster Beverage in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a report on Monday, December 8th. Evercore ISI upped their price objective on Monster Beverage from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. The Goldman Sachs Group raised their target price on Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Finally, Citigroup reaffirmed a “buy” rating and set a $87.00 price target (up previously from $82.00) on shares of Monster Beverage in a research report on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.95.

Check Out Our Latest Report on Monster Beverage

Monster Beverage Company Profile

(Free Report)

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.

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