ING Groep NV Sells 140,034 Shares of Monster Beverage Co. (NASDAQ:MNST)

ING Groep NV trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 85.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 23,421 shares of the company’s stock after selling 140,034 shares during the quarter. ING Groep NV’s holdings in Monster Beverage were worth $2,133,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MNST. OLD Mission Capital LLC purchased a new position in Monster Beverage during the third quarter valued at approximately $5,669,000. Stratos Wealth Partners LTD. purchased a new position in Monster Beverage during the fourth quarter valued at approximately $205,000. CIBC Asset Management Inc increased its holdings in Monster Beverage by 7.3% during the fourth quarter. CIBC Asset Management Inc now owns 80,985 shares of the company’s stock valued at $7,489,000 after buying an additional 5,507 shares during the period. Winslow Evans & Crocker Inc. increased its holdings in Monster Beverage by 1,000.0% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 1,100 shares of the company’s stock valued at $101,000 after buying an additional 1,000 shares during the period. Finally, State of Wisconsin Investment Board increased its holdings in Monster Beverage by 5.0% during the fourth quarter. State of Wisconsin Investment Board now owns 547,772 shares of the company’s stock valued at $50,658,000 after buying an additional 25,927 shares during the period. 63.30% of the stock is currently owned by institutional investors.

Several research firms have issued reports on MNST. Deutsche Bank Aktiengesellschaft cut their price target on shares of Monster Beverage from $109.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 7th. Truist lifted their price target on shares of Monster Beverage from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 7th. Morgan Stanley lifted their price target on shares of Monster Beverage from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 19th. Truist Securities lifted their price target on shares of Monster Beverage from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 7th. Finally, Truist Financial lifted their price target on shares of Monster Beverage from $105.00 to $115.00 in a report on Friday, May 7th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $101.16.

In related news, insider Emelie Tirre sold 42,786 shares of the business’s stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $95.08, for a total transaction of $4,068,092.88. Following the completion of the transaction, the insider now directly owns 14,557 shares in the company, valued at $1,384,079.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.60% of the company’s stock.

NASDAQ MNST opened at $93.77 on Friday. The firm has a market capitalization of $49.56 billion, a P/E ratio of 34.60, a PEG ratio of 2.73 and a beta of 1.10. The firm’s fifty day simple moving average is $94.43. Monster Beverage Co. has a 1 year low of $66.62 and a 1 year high of $99.24.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Monster Beverage had a net margin of 30.25% and a return on equity of 26.31%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, analysts expect that Monster Beverage Co. will post 2.6 EPS for the current year.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy teas and shakes, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience chains, drug stores, foodservice customers, value stores, e-commerce retailers, and the military; and concentrates and/or beverage bases to bottling and canning operations.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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