Oppenheimer Asset Management Inc. Cuts Stock Position in Monster Beverage Corporation $MNST

Oppenheimer Asset Management Inc. decreased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 11.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,106 shares of the company’s stock after selling 8,189 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Monster Beverage were worth $4,382,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in shares of Monster Beverage by 397.9% in the 1st quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock worth $890,000 after purchasing an additional 12,148 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Monster Beverage by 247.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock valued at $813,000 after purchasing an additional 9,251 shares in the last quarter. Blair William & Co. IL raised its holdings in Monster Beverage by 2.1% in the second quarter. Blair William & Co. IL now owns 16,254 shares of the company’s stock worth $1,018,000 after buying an additional 342 shares during the last quarter. IFP Advisors Inc raised its holdings in Monster Beverage by 11.9% in the second quarter. IFP Advisors Inc now owns 4,598 shares of the company’s stock worth $288,000 after buying an additional 489 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Monster Beverage by 6.7% in the second quarter. Blue Trust Inc. now owns 3,293 shares of the company’s stock worth $206,000 after buying an additional 207 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $80.79 on Thursday. The stock has a market capitalization of $78.93 billion, a price-to-earnings ratio of 45.90, a PEG ratio of 2.08 and a beta of 0.45. The stock’s 50-day simple moving average is $77.86 and its two-hundred day simple moving average is $70.57. Monster Beverage Corporation has a 52-week low of $47.32 and a 52-week high of $83.24.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MNST. Wells Fargo & Company reissued an “overweight” rating and set a $86.00 price target (up previously from $83.00) on shares of Monster Beverage in a research report on Monday, January 5th. BMO Capital Markets reissued a “market perform” rating and issued a $73.00 target price (up previously from $53.00) on shares of Monster Beverage in a report on Wednesday, December 3rd. UBS Group restated a “neutral” rating and issued a $84.00 price target (up previously from $75.00) on shares of Monster Beverage in a research note on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 price objective on shares of Monster Beverage in a research report on Tuesday, November 4th. Finally, TD Cowen reiterated a “hold” rating on shares of Monster Beverage in a report on Thursday, January 8th. Fourteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell 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 $78.90.

Insider Activity at Monster Beverage

In other news, insider Emelie Tirre sold 30,000 shares of Monster Beverage stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the transaction, the insider owned 63,939 shares in the company, valued at $4,687,368.09. This trade represents a 31.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rodney C. Sacks sold 206,543 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.58, for a total transaction of $15,197,433.94. Additional details regarding this sale are available in the official SEC disclosure. 8.30% of the stock is currently owned by company insiders.

Monster Beverage Company Profile

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.