Monster Beverage Co. (NASDAQ:MNST) Position Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,911 shares of the company’s stock after selling 2,154 shares during the period. Mutual of America Capital Management LLC’s holdings in Monster Beverage were worth $5,745,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Monster Beverage by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 63,682,310 shares of the company’s stock worth $3,668,738,000 after buying an additional 550,293 shares in the last quarter. Wellington Management Group LLP boosted its stake in Monster Beverage by 20.3% in the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock worth $1,033,323,000 after purchasing an additional 3,296,466 shares during the period. Clearbridge Investments LLC boosted its stake in Monster Beverage by 2.9% in the 4th quarter. Clearbridge Investments LLC now owns 11,622,228 shares of the company’s stock worth $669,557,000 after purchasing an additional 330,740 shares during the period. Capital Research Global Investors boosted its stake in Monster Beverage by 40.6% in the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock worth $603,659,000 after purchasing an additional 3,026,657 shares during the period. Finally, Norges Bank acquired a new position in Monster Beverage in the 4th quarter worth approximately $517,035,000. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

Shares of Monster Beverage stock traded down $0.26 during trading on Tuesday, hitting $49.92. 2,519,541 shares of the company’s stock traded hands, compared to its average volume of 7,514,150. The firm’s fifty day moving average price is $51.75 and its 200 day moving average price is $55.04. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22. The company has a market cap of $52.00 billion, a PE ratio of 31.41, a PEG ratio of 1.98 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. Monster Beverage’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. As a group, equities research analysts anticipate that Monster Beverage Co. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MNST shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of Monster Beverage in a research note on Monday, July 1st. Truist Financial downgraded shares of Monster Beverage from a “buy” rating to a “sell” rating and cut their target price for the stock from $65.00 to $46.00 in a research report on Thursday, April 25th. BMO Capital Markets cut their price target on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Piper Sandler raised their price target on shares of Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Roth Mkm cut their price target on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.05.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the transaction, the director now directly owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the transaction, the director now directly owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The disclosure for this sale can be found here. Insiders have sold a total of 307,221 shares of company stock worth $16,070,374 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.