Victory Capital Management Inc. Sells 30,936 Shares of Monster Beverage Corporation $MNST

Victory Capital Management Inc. lowered its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 789,212 shares of the company’s stock after selling 30,936 shares during the period. Victory Capital Management Inc.’s holdings in Monster Beverage were worth $53,122,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MNST. Jones Financial Companies Lllp increased its position in shares of Monster Beverage by 397.9% in the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after acquiring an additional 12,148 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Monster Beverage by 247.7% in the second quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after purchasing an additional 9,251 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Monster Beverage by 100.9% in the second quarter. Sigma Planning Corp now owns 10,578 shares of the company’s stock worth $663,000 after purchasing an additional 5,313 shares during the last quarter. Huntington National Bank increased its holdings in Monster Beverage by 18.9% during the 2nd quarter. Huntington National Bank now owns 4,997 shares of the company’s stock valued at $313,000 after purchasing an additional 793 shares during the period. Finally, Atlantic Union Bankshares Corp increased its holdings in Monster Beverage by 3.9% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 16,479 shares of the company’s stock valued at $1,032,000 after purchasing an additional 613 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Down 1.4%

NASDAQ MNST opened at $75.61 on Friday. The firm has a market capitalization of $73.87 billion, a PE ratio of 38.97, a P/E/G ratio of 2.48 and a beta of 0.44. The stock’s 50 day moving average is $80.19 and its 200 day moving average is $72.90. Monster Beverage Corporation has a twelve month low of $54.00 and a twelve month high of $87.38.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on MNST. The Goldman Sachs Group increased their price objective on Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Roth Mkm reissued a “neutral” rating and set a $70.00 target price on shares of Monster Beverage in a research note on Wednesday, December 3rd. Citigroup upped their target price on Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 27th. Stifel Nicolaus raised their price target on Monster Beverage from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Insider Activity at Monster Beverage

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

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.