Moran Wealth Management LLC Reduces Stock Holdings in Monster Beverage Corporation $MNST

Moran Wealth Management LLC reduced its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 179,187 shares of the company’s stock after selling 7,481 shares during the quarter. Moran Wealth Management LLC’s holdings in Monster Beverage were worth $13,738,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Monster Beverage by 3.2% during the third quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock valued at $4,542,320,000 after buying an additional 2,122,685 shares during the last quarter. State Street Corp increased its stake in shares of Monster Beverage by 8.0% in the 3rd quarter. State Street Corp now owns 37,719,091 shares of the company’s stock worth $2,538,872,000 after purchasing an additional 2,789,273 shares in the last quarter. Invesco Ltd. raised its holdings in Monster Beverage by 6.3% in the 3rd quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock worth $785,885,000 after purchasing an additional 692,192 shares during the period. Ninety One UK Ltd lifted its position in Monster Beverage by 11.3% during the third quarter. Ninety One UK Ltd now owns 9,957,835 shares of the company’s stock valued at $670,262,000 after purchasing an additional 1,013,356 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Monster Beverage by 12.2% during the third quarter. Schroder Investment Management Group now owns 8,175,683 shares of the company’s stock valued at $547,444,000 after purchasing an additional 891,804 shares during the period. Institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MNST shares. Bank of America decreased their price objective on Monster Beverage from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Royal Bank Of Canada set a $86.00 price objective on Monster Beverage in a research note on Thursday, April 9th. Jefferies Financial Group set a $100.00 target price on shares of Monster Beverage in a research note on Wednesday, March 11th. Stifel Nicolaus upped their price target on shares of Monster Beverage from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Monster Beverage from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.38.

Monster Beverage Trading Up 1.8%

Shares of MNST opened at $76.72 on Friday. The business’s 50 day moving average is $77.45 and its 200 day moving average is $75.13. Monster Beverage Corporation has a 12-month low of $57.01 and a 12-month high of $87.38. The company has a market capitalization of $75.03 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 2.64 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the firm posted $0.39 EPS. The company’s revenue was up 17.6% on a year-over-year basis. Equities research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.