Gibraltar Capital Management Inc. Sells 5,357 Shares of Monster Beverage Co. (NASDAQ:MNST)

Gibraltar Capital Management Inc. decreased its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 109,151 shares of the company’s stock after selling 5,357 shares during the quarter. Monster Beverage accounts for about 2.7% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 18th biggest position. Gibraltar Capital Management Inc.’s holdings in Monster Beverage were worth $6,288,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Monster Beverage by 20.3% during the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock valued at $1,033,323,000 after acquiring an additional 3,296,466 shares in the last quarter. Northern Trust Corp boosted its position in shares of Monster Beverage by 3.3% during the 3rd quarter. Northern Trust Corp now owns 7,638,653 shares of the company’s stock valued at $404,467,000 after acquiring an additional 243,401 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Monster Beverage by 6.2% during the 3rd quarter. Nordea Investment Management AB now owns 5,211,419 shares of the company’s stock valued at $278,238,000 after acquiring an additional 305,086 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Monster Beverage by 33.5% during the 3rd quarter. American Century Companies Inc. now owns 3,782,074 shares of the company’s stock valued at $200,261,000 after acquiring an additional 948,133 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Monster Beverage by 61.5% during the 3rd quarter. William Blair Investment Management LLC now owns 3,431,785 shares of the company’s stock valued at $181,713,000 after acquiring an additional 1,307,482 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MNST. The Goldman Sachs Group lifted their target price on shares of Monster Beverage from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Royal Bank of Canada boosted their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Truist Financial downgraded shares of Monster Beverage from a “buy” rating to a “sell” rating and dropped their price target for the stock from $65.00 to $46.00 in a research note on Thursday, April 25th. Redburn Atlantic began coverage on shares of Monster Beverage in a research note on Wednesday, March 6th. They set a “buy” rating for the company. Finally, Citigroup boosted their price target on shares of Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.68.

Monster Beverage Price Performance

Shares of Monster Beverage stock traded down $0.68 on Tuesday, hitting $53.45. The company had a trading volume of 5,652,608 shares, compared to its average volume of 5,377,775. The firm has a market capitalization of $55.62 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.18 and a beta of 0.72. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22. The stock has a 50-day moving average of $56.91 and a 200-day moving average of $55.77.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Equities analysts predict that Monster Beverage Co. will post 1.81 EPS for the current year.

Insider Activity

In related news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the transaction, the director now owns 777,840 shares in the company, valued at $45,542,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.

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.