Oak Thistle LLC Trims Holdings in Monster Beverage Corporation $MNST

by · The Markets Daily

Oak Thistle LLC lowered its stake in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 76.1% in the third quarter, Holdings Channel reports. The institutional investor owned 7,908 shares of the company’s stock after selling 25,162 shares during the quarter. Oak Thistle LLC’s holdings in Monster Beverage were worth $532,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. waypoint wealth counsel acquired a new stake in Monster Beverage during the second quarter valued at approximately $314,000. Prudential PLC increased its holdings in shares of 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 during the last quarter. VestGen Advisors LLC raised 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 in the last quarter. Swiss National Bank raised its position in shares of Monster Beverage by 7.4% during the 2nd quarter. Swiss National Bank now owns 2,209,500 shares of the company’s stock valued at $138,403,000 after acquiring an additional 152,300 shares in the last quarter. Finally, OMNI 360 Wealth Inc. bought a new position in Monster Beverage during the second quarter worth $365,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $73.58, for a total value of $15,197,433.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Guy Carling sold 38,438 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the transaction, the insider directly owned 21,993 shares in the company, valued at approximately $1,568,760.69. The trade was a 63.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 274,981 shares of company stock valued at $20,138,516. Company insiders own 8.30% of the company’s stock.

Monster Beverage Trading Up 1.1%

MNST opened at $76.26 on Friday. The business’s 50 day moving average is $71.48 and its 200-day moving average is $65.96. The stock has a market cap of $74.51 billion, a PE ratio of 43.33, a price-to-earnings-growth ratio of 2.26 and a beta of 0.48. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $77.17.

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

Analysts Set New Price Targets

Several research firms have weighed in on MNST. JPMorgan Chase & Co. boosted their target price on shares of Monster Beverage from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Evercore ISI boosted their price objective on shares of Monster Beverage from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Wall Street Zen upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. UBS Group upped their target price on Monster Beverage from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, Roth Capital reissued a “neutral” rating and issued a $70.00 price target on shares of Monster Beverage in a report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $73.67.

View Our Latest Stock Analysis on MNST

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.

Further Reading

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