Monster Beverage Co. (NASDAQ:MNST) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lowered its position in Monster Beverage Co. (NASDAQ:MNST) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 105,101 shares of the company’s stock after selling 1,465 shares during the period. New York Life Investment Management LLC’s holdings in Monster Beverage were worth $6,055,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Monster Beverage by 8.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,210 shares of the company’s stock valued at $1,017,000 after purchasing an additional 1,482 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Monster Beverage by 112.2% in the 3rd quarter. Corient Private Wealth LLC now owns 195,272 shares of the company’s stock valued at $10,339,000 after buying an additional 103,271 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Monster Beverage in the 4th quarter worth $7,340,000. Defender Capital LLC. raised its holdings in shares of Monster Beverage by 30.2% during the 4th quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock worth $21,378,000 after acquiring an additional 86,050 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Monster Beverage by 9.6% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 10,268 shares of the company’s stock valued at $590,000 after acquiring an additional 900 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MNST has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Morgan Stanley reduced their price target on shares of Monster Beverage from $68.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday. HSBC lowered their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Truist Financial downgraded Monster Beverage from a “buy” rating to a “sell” rating and reduced their target price for the company from $65.00 to $46.00 in a research report on Thursday, April 25th. Finally, Redburn Atlantic assumed coverage on Monster Beverage in a report on Wednesday, March 6th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.32.

Monster Beverage Stock Up 3.0 %

NASDAQ:MNST opened at $55.00 on Friday. Monster Beverage Co. has a 52 week low of $47.13 and a 52 week high of $61.22. The company has a fifty day simple moving average of $56.84 and a two-hundred day simple moving average of $55.73. The company has a market cap of $57.30 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 2.19 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a return on equity of 21.13% and a net margin of 22.83%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, analysts expect that Monster Beverage Co. will post 1.8 EPS for the current year.

Insider Transactions at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.40% of the company’s stock.

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.