Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP lowered its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 86.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,002 shares of the company’s stock after selling 46,535 shares during the period. Seven Eight Capital LP’s holdings in Monster Beverage were worth $415,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Monster Beverage by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock valued at $3,837,867,000 after acquiring an additional 1,059,042 shares during the last quarter. 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 buying an additional 330,740 shares during the last quarter. 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 buying an additional 3,026,657 shares during the last quarter. Norges Bank acquired a new stake in Monster Beverage in the 4th quarter worth about $517,035,000. Finally, William Blair Investment Management LLC boosted its stake in Monster Beverage by 34.1% in the 1st quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock worth $288,082,000 after buying an additional 1,234,718 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the transaction, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at approximately $99,404,574. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 307,221 shares of company stock valued at $16,070,374. Insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler raised their price target on Monster Beverage from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Wells Fargo & Company decreased their price target on Monster Beverage from $65.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. BNP Paribas assumed coverage on Monster Beverage in a research note on Monday, June 24th. They issued an “underperform” rating and a $48.00 price target on the stock. Stifel Nicolaus decreased their price target on Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, June 17th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $59.33.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded down $0.72 during mid-day trading on Wednesday, hitting $49.59. 7,109,660 shares of the company traded hands, compared to its average volume of 7,390,916. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $61.22. The firm’s 50 day simple moving average is $50.87 and its 200 day simple moving average is $54.51. The firm has a market cap of $51.66 billion, a P/E ratio of 31.64, a PEG ratio of 2.05 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. Monster Beverage’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Equities research analysts expect that Monster Beverage Co. will post 1.75 EPS for the current fiscal year.

Monster Beverage Profile

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.