CoreCap Advisors LLC Cuts Stake in Monster Beverage Corporation $MNST

CoreCap Advisors LLC lessened its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 61.1% during the third quarter, HoldingsChannel reports. The firm owned 11,133 shares of the company’s stock after selling 17,520 shares during the period. CoreCap Advisors LLC’s holdings in Monster Beverage were worth $749,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Exchange Traded Concepts LLC increased its stake in Monster Beverage by 222.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock worth $3,385,000 after buying an additional 34,697 shares during the period. waypoint wealth counsel purchased a new position in Monster Beverage in the 2nd quarter valued at about $314,000. Prudential PLC grew its stake in shares of Monster Beverage by 76.4% during the second quarter. Prudential PLC now owns 108,930 shares of the company’s stock valued at $6,823,000 after acquiring an additional 47,165 shares in the last quarter. VestGen Advisors LLC increased its position in shares of Monster Beverage by 449.4% during the second quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock worth $1,376,000 after acquiring an additional 17,974 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its stake in shares of Monster Beverage by 87.8% in the third quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock worth $2,163,000 after acquiring an additional 15,029 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Up 1.0%

Shares of NASDAQ MNST opened at $77.34 on Friday. The firm’s 50-day moving average price is $73.91 and its two-hundred day moving average price is $67.39. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $78.31. The stock has a market capitalization of $75.56 billion, a P/E ratio of 43.94, a P/E/G ratio of 2.02 and a beta of 0.46.

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. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, equities research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MNST shares. JPMorgan Chase & Co. raised their price objective on Monster Beverage from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Zacks Research cut Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. 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. Weiss Ratings restated a “buy (b)” rating on shares of Monster Beverage in a research note on Monday, December 29th. Finally, The Goldman Sachs Group upped their price target on shares of Monster Beverage from $80.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.05.

Insiders Place Their Bets

In related news, insider Emelie Tirre sold 30,000 shares of the stock in a transaction dated Friday, December 12th. The shares were 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 of the company’s stock, valued at $4,687,368.09. This trade represents a 31.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rodney C. Sacks sold 206,543 shares of the business’s stock in a transaction dated 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. Insiders have sold 274,981 shares of company stock valued at $20,138,516 over the last three months. Company insiders own 8.30% of the company’s stock.

Monster Beverage 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.