QRG Capital Management Inc. Sells 7,504 Shares of Monster Beverage Corporation $MNST

by · The Cerbat Gem

QRG Capital Management Inc. trimmed its position in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,599 shares of the company’s stock after selling 7,504 shares during the quarter. QRG Capital Management Inc.’s holdings in Monster Beverage were worth $4,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Monster Beverage by 397.9% in the 1st quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after buying an additional 12,148 shares during the last quarter. Sivia Capital Partners LLC grew its holdings 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 valued at $813,000 after acquiring an additional 9,251 shares in the last quarter. Cresset Asset Management LLC increased its position in shares of Monster Beverage by 23.9% during the second quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock valued at $417,000 after acquiring an additional 1,281 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Monster Beverage by 55.9% during the second quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock worth $301,000 after acquiring an additional 1,721 shares during the period. Finally, NewEdge Advisors LLC boosted its position in Monster Beverage by 151.7% in the second quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock worth $2,134,000 after purchasing an additional 20,538 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MNST shares. Jefferies Financial Group set a $100.00 price objective on Monster Beverage in a research note on Wednesday, March 11th. Sanford C. Bernstein began coverage on shares of Monster Beverage in a research report on Friday, June 12th. They set a “market perform” rating and a $95.00 price target for the company. TD Cowen decreased their price objective on shares of Monster Beverage from $88.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a research report on Thursday, June 18th. Finally, Wall Street Zen cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.35.

Get Our Latest Report on MNST

Insider Buying and Selling at Monster Beverage

In related news, Director Mark J. Hall sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.81, for a total value of $4,633,740.00. Following the completion of the transaction, the director directly owned 299,246 shares of the company’s stock, valued at approximately $25,678,299.26. This trade represents a 15.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Kelly sold 7,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total transaction of $614,670.00. Following the completion of the transaction, the chief financial officer owned 62,553 shares of the company’s stock, valued at $5,492,778.93. This represents a 10.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,700 shares of company stock worth $15,457,562 over the last three months. Company insiders own 8.10% of the company’s stock.

Monster Beverage Stock Performance

MNST stock opened at $97.60 on Monday. The stock has a fifty day moving average of $88.09 and a 200-day moving average of $81.46. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $98.93. The company has a market capitalization of $95.45 billion, a price-to-earnings ratio of 47.15, a PEG ratio of 3.21 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 EPS. Equities analysts predict that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage declared that its board has approved a share buyback program on Friday, May 15th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

About Monster Beverage

(Free Report)

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.

Further Reading

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