NewEdge Wealth LLC Sells 753 Shares of Monster Beverage Co. (NASDAQ:MNST)

NewEdge Wealth LLC lowered its position in shares of Monster Beverage Co. (NASDAQ:MNSTFree Report) by 14.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,564 shares of the company’s stock after selling 753 shares during the period. NewEdge Wealth LLC’s holdings in Monster Beverage were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its position in Monster Beverage by 0.3% during the 2nd quarter. BlackRock Inc. now owns 53,324,053 shares of the company’s stock worth $3,062,934,000 after acquiring an additional 163,004 shares during the last quarter. State Street Corp grew its position in Monster Beverage by 2.0% during the 2nd quarter. State Street Corp now owns 34,684,521 shares of the company’s stock worth $1,992,279,000 after acquiring an additional 682,650 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Monster Beverage by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 30,005,150 shares of the company’s stock valued at $2,397,411,000 after buying an additional 504,239 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Monster Beverage by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 14,780,177 shares of the company’s stock valued at $846,503,000 after buying an additional 418,667 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Monster Beverage by 10.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,071,948 shares of the company’s stock valued at $804,749,000 after buying an additional 912,942 shares during the last quarter. Institutional investors own 64.60% of the company’s stock.

Monster Beverage Stock Up 0.1 %

MNST stock opened at $56.49 on Friday. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $60.47. The stock’s 50 day moving average is $56.35 and its 200-day moving average is $55.34. The firm has a market capitalization of $58.77 billion, a PE ratio of 38.04, a P/E/G ratio of 1.49 and a beta of 0.72.

Monster Beverage announced that its board has initiated a share buyback program on Wednesday, November 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Monster Beverage

In related news, insider Guy Carling sold 34,553 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $55.55, for a total transaction of $1,919,419.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Thomas J. Kelly sold 30,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.19, for a total transaction of $1,655,700.00. Following the completion of the sale, the chief financial officer now directly owns 60,056 shares of the company’s stock, valued at $3,314,490.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Guy Carling sold 34,553 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $55.55, for a total value of $1,919,419.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,553 shares of company stock valued at $3,850,599. 9.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MNST shares. Roth Mkm reduced their price target on Monster Beverage from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 20th. Piper Sandler upped their price target on Monster Beverage from $50.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, November 20th. BMO Capital Markets upped their price target on Monster Beverage from $57.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, January 17th. Wells Fargo & Company upped their price target on Monster Beverage from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Monster Beverage from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.73.

Get Our Latest Analysis on MNST

About Monster Beverage

(Free Report)

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: Finished Product, Concentrate, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas and juice drinks, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

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

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