JT Stratford LLC Cuts Position in Monster Beverage Corporation $MNST

by · The Markets Daily

JT Stratford LLC trimmed its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 39.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,260 shares of the company’s stock after selling 12,484 shares during the period. JT Stratford LLC’s holdings in Monster Beverage were worth $1,296,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MNST. Exchange Traded Concepts LLC boosted its position 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 worth $3,385,000 after buying an additional 34,697 shares during the period. Prudential PLC lifted its position in Monster Beverage by 76.4% during the 2nd quarter. Prudential PLC now owns 108,930 shares of the company’s stock worth $6,823,000 after acquiring an additional 47,165 shares in the last quarter. VestGen Advisors LLC lifted its position in Monster Beverage by 449.4% during the 2nd quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock worth $1,376,000 after acquiring an additional 17,974 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in Monster Beverage by 87.8% in the 3rd quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock worth $2,163,000 after acquiring an additional 15,029 shares during the period. Finally, ABN AMRO Bank N.V. acquired a new stake in Monster Beverage in the third quarter valued at approximately $59,170,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST stock opened at $78.61 on Thursday. The firm has a fifty day moving average of $80.23 and a two-hundred day moving average of $72.79. The firm has a market cap of $76.80 billion, a P/E ratio of 40.52, a P/E/G ratio of 2.56 and a beta of 0.44. Monster Beverage Corporation has a 1-year low of $54.00 and a 1-year high of $87.38.

Monster Beverage (NASDAQ:MNST – Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Buying and Selling

In other news, 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 owned 63,939 shares in the company, valued at approximately $4,687,368.09. This trade represents a 31.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rodney C. Sacks sold 206,543 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $73.58, for a total value of $15,197,433.94. The disclosure for this sale is available in the SEC filing. Company insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MNST shares. Jefferies Financial Group boosted their target price on shares of Monster Beverage from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group boosted their price objective on shares of Monster Beverage from $84.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. BNP Paribas Exane upgraded Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 target price for the company in a research note on Friday, January 16th. Finally, Bank of America lifted their target price on Monster Beverage from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Get Our Latest Stock Analysis on Monster Beverage

Monster Beverage 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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