Alaska Permanent Fund Corp Sells 18,606 Shares of Monster Beverage Co. (NASDAQ:MNST)

Alaska Permanent Fund Corp reduced its position in Monster Beverage Co. (NASDAQ:MNST) by 34.2% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Delta Financial Advisors LLC boosted its stake in Monster Beverage by 0.9% in the third quarter. Delta Financial Advisors LLC now owns 19,168 shares of the company’s stock valued at $1,015,000 after acquiring an additional 180 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Monster Beverage by 5.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,659 shares of the company’s stock valued at $211,000 after buying an additional 196 shares during the period. Catalyst Capital Advisors LLC increased its position in shares of Monster Beverage by 34.6% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock valued at $41,000 after buying an additional 199 shares in the last quarter. PFG Investments LLC lifted its holdings in Monster Beverage by 2.6% during the fourth quarter. PFG Investments LLC now owns 7,761 shares of the company’s stock worth $447,000 after acquiring an additional 199 shares in the last quarter. Finally, Mainsail Financial Group LLC grew its stake in Monster Beverage by 1.2% in the third quarter. Mainsail Financial Group LLC now owns 18,169 shares of the company’s stock valued at $955,000 after acquiring an additional 211 shares during the period. Institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the transaction, the director now directly owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MNST. HSBC cut their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. BMO Capital Markets upped their price target on shares of Monster Beverage from $57.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, January 17th. Jefferies Financial Group raised their price objective on shares of Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Truist Financial lowered shares of Monster Beverage from a “buy” rating to a “sell” rating and reduced their target price for the stock from $65.00 to $46.00 in a research note on Thursday. Finally, Citigroup lifted their price target on Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.79.

Monster Beverage Trading Down 0.3 %

NASDAQ MNST opened at $53.01 on Friday. The firm’s fifty day moving average price is $57.00 and its two-hundred day moving average price is $55.57. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22. The firm has a market capitalization of $55.16 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 2.22 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last issued 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 company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm earned $0.28 EPS. Monster Beverage’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, research analysts anticipate that Monster Beverage Co. will post 1.81 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.