WBI Investments LLC Has $2.14 Million Stock Holdings in Monster Beverage Corporation $MNST

WBI Investments LLC lowered its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 14.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,093 shares of the company’s stock after selling 5,865 shares during the period. WBI Investments LLC’s holdings in Monster Beverage were worth $2,136,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Monster Beverage by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after purchasing an additional 1,151,175 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Monster Beverage by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 18,680,424 shares of the company’s stock valued at $1,165,292,000 after buying an additional 742,518 shares in the last quarter. Invesco Ltd. increased its holdings in Monster Beverage by 6.6% in the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after buying an additional 563,353 shares during the last quarter. Ninety One UK Ltd raised its position in Monster Beverage by 4.9% during the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock valued at $560,282,000 after acquiring an additional 418,918 shares in the last quarter. Finally, Nuveen LLC bought a new position in Monster Beverage during the first quarter valued at approximately $497,157,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Monster Beverage

In other news, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the transaction, the insider owned 21,993 shares in the company, valued at approximately $1,568,760.69. The trade was a 63.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Stock Up 0.7%

Shares of NASDAQ:MNST opened at $71.84 on Tuesday. The company has a market cap of $70.19 billion, a price-to-earnings ratio of 44.62, a PEG ratio of 2.31 and a beta of 0.53. The business has a 50 day moving average price of $67.57 and a 200 day moving average price of $64.01. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $73.03.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MNST shares. Royal Bank Of Canada restated an “outperform” rating on shares of Monster Beverage in a research note on Thursday, November 6th. Evercore ISI increased their target price on shares of Monster Beverage from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. The Goldman Sachs Group boosted their price target on Monster Beverage from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. upped their price target on Monster Beverage from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Finally, Wells Fargo & Company raised their price objective on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.62.

About Monster Beverage

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.