Monster Beverage Corporation $MNST Shares Sold by Atria Investments Inc

Atria Investments Inc trimmed its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 2.9% in the second quarter, HoldingsChannel.com reports. The firm owned 188,205 shares of the company’s stock after selling 5,572 shares during the quarter. Atria Investments Inc’s holdings in Monster Beverage were worth $11,789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Monster Beverage by 1.8% in the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock valued at $3,791,313,000 after purchasing an additional 1,151,175 shares in the last quarter. Invesco Ltd. grew its stake in Monster Beverage by 6.6% during the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after buying an additional 563,353 shares during the last quarter. Ninety One UK Ltd grew its stake in Monster Beverage by 4.9% during the 2nd quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock worth $560,282,000 after buying an additional 418,918 shares during the last quarter. Nuveen LLC purchased a new position in Monster Beverage during the 1st quarter worth approximately $497,157,000. Finally, Northern Trust Corp grew its stake in Monster Beverage by 1.0% during the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock worth $434,901,000 after buying an additional 73,737 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Price Performance

Monster Beverage stock opened at $66.57 on Friday. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $70.72. The business has a 50 day simple moving average of $65.97 and a 200-day simple moving average of $63.06. The stock has a market capitalization of $65.00 billion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 2.31 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America raised their price target on Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wells Fargo & Company set a $73.00 price target on Monster Beverage and gave the stock an “overweight” rating in a research note on Friday, August 8th. Redburn Atlantic downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating and dropped their price target for the stock from $63.00 to $60.00 in a research note on Wednesday, July 9th. Piper Sandler upgraded Monster Beverage from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Monster Beverage in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $67.10.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is owned by corporate insiders.

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.