Frank Rimerman Advisors LLC Sells 1,456 Shares of Monster Beverage Corporation $MNST

Frank Rimerman Advisors LLC lessened its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 14.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,972 shares of the company’s stock after selling 1,456 shares during the period. Frank Rimerman Advisors LLC’s holdings in Monster Beverage were worth $562,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OMNI 360 Wealth Inc. bought a new position in shares of Monster Beverage during the 2nd quarter worth approximately $365,000. Avior Wealth Management LLC lifted its position in shares of Monster Beverage by 35.3% in the second quarter. Avior Wealth Management LLC now owns 22,146 shares of the company’s stock worth $1,387,000 after purchasing an additional 5,781 shares in the last quarter. Profund Advisors LLC boosted its holdings in Monster Beverage by 10.1% during the second quarter. Profund Advisors LLC now owns 82,553 shares of the company’s stock worth $5,171,000 after purchasing an additional 7,606 shares during the last quarter. Nordea Investment Management AB grew its position in Monster Beverage by 1.1% in the second quarter. Nordea Investment Management AB now owns 2,191,598 shares of the company’s stock valued at $136,054,000 after purchasing an additional 22,960 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC increased its stake in Monster Beverage by 1.1% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 450,840 shares of the company’s stock valued at $28,241,000 after buying an additional 5,118 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $72.30 on Thursday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $73.07. The company has a market capitalization of $70.64 billion, a P/E ratio of 44.91, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53. The company has a 50-day simple moving average of $67.95 and a 200 day simple moving average of $64.15.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share 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 firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Buying and Selling at Monster Beverage

In related news, insider Guy Carling sold 38,438 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the sale, the insider owned 21,993 shares in the company, valued at approximately $1,568,760.69. This represents a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the topic of several analyst reports. UBS Group boosted their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Monster Beverage in a research report on Thursday, November 6th. Piper Sandler increased their price target on Monster Beverage from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Bank of America raised their price target on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Zacks Research raised Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.62.

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.