Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp cut its stake in Monster Beverage Co. (NASDAQ:MNST) by 34.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,819 shares of the company’s stock after selling 18,606 shares during the period. Alaska Permanent Fund Corp’s holdings in Monster Beverage were worth $2,064,000 as of its most recent SEC filing.

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

Monster Beverage Stock Performance

Shares of MNST opened at $53.01 on Friday. The firm has a fifty day moving average of $57.00 and a 200-day moving average of $55.57. The company has a market cap of $55.16 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 2.22 and a beta of 0.72. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the business posted $0.28 EPS. Monster Beverage’s revenue was up 14.4% on a year-over-year basis. Analysts predict that Monster Beverage Co. will post 1.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MNST shares. Truist Financial cut Monster Beverage from a “buy” rating to a “sell” rating and decreased their price target for the stock from $65.00 to $46.00 in a report on Thursday. The Goldman Sachs Group raised their price target on shares of Monster Beverage from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Morgan Stanley raised their price objective on shares of Monster Beverage from $63.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. HSBC cut their target price on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Finally, Jefferies Financial Group upped their price objective on Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.79.

Insider Buying and Selling

In other news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the completion of the transaction, the director now owns 777,840 shares of the company’s stock, valued at $45,542,532. The transaction was disclosed in a document filed with the SEC, which is available at 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.