Optimum Investment Advisors cut its stake in shares of Monster Beverage Corp (NASDAQ:MNST) by 23.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,002 shares of the company’s stock after selling 600 shares during the period. Optimum Investment Advisors’ holdings in Monster Beverage were worth $128,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Monster Beverage by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 5,335,460 shares of the company’s stock worth $262,159,000 after purchasing an additional 289,340 shares during the period. Northern Trust Corp grew its holdings in shares of Monster Beverage by 0.4% during the first quarter. Northern Trust Corp now owns 4,780,268 shares of the company’s stock valued at $260,907,000 after buying an additional 21,204 shares in the last quarter. USS Investment Management Ltd grew its holdings in shares of Monster Beverage by 14.3% during the first quarter. USS Investment Management Ltd now owns 2,190,226 shares of the company’s stock valued at $119,521,000 after buying an additional 274,111 shares in the last quarter. AJO LP grew its holdings in shares of Monster Beverage by 811.6% during the first quarter. AJO LP now owns 1,754,408 shares of the company’s stock valued at $95,756,000 after buying an additional 1,561,959 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Monster Beverage by 2.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,595,716 shares of the company’s stock valued at $87,094,000 after buying an additional 39,452 shares in the last quarter. 66.28% of the stock is currently owned by institutional investors.
NASDAQ MNST traded down $2.45 on Friday, reaching $59.73. The stock had a trading volume of 148,644 shares, compared to its average volume of 2,533,104. The firm has a 50 day simple moving average of $64.08. Monster Beverage Corp has a 1 year low of $47.74 and a 1 year high of $66.38. The company has a market capitalization of $32.71 billion, a P/E ratio of 33.31, a price-to-earnings-growth ratio of 2.03 and a beta of 1.30.
In other Monster Beverage news, insider Guy Carling sold 24,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.82, for a total value of $1,579,680.00. Following the transaction, the insider now owns 33,535 shares in the company, valued at $2,207,273.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.20% of the company’s stock.
A number of research analysts have recently weighed in on the company. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price target (down previously from $67.00) on shares of Monster Beverage in a report on Thursday. UBS Group reiterated a “sell” rating and set a $52.00 price target (down previously from $53.00) on shares of Monster Beverage in a report on Thursday. Zacks Investment Research upgraded Monster Beverage from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Macquarie set a $63.00 price target on Monster Beverage and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, BidaskClub upgraded Monster Beverage from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Monster Beverage has an average rating of “Hold” and a consensus price target of $65.21.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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