Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 71.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,093 shares of the company’s stock after selling 291,534 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Monster Beverage were worth $6,573,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MNST. Freedom Wealth Alliance LLC acquired a new stake in Monster Beverage during the 4th quarter valued at approximately $25,000. Peoples Bank KS acquired a new stake in Monster Beverage during the 3rd quarter valued at approximately $26,000. Resurgent Financial Advisors LLC acquired a new position in shares of Monster Beverage in the 4th quarter worth approximately $26,000. Ancora Advisors LLC acquired a new position in shares of Monster Beverage in the 1st quarter worth approximately $27,000. Finally, Quarry LP grew its position in shares of Monster Beverage by 276.1% in the 1st quarter. Quarry LP now owns 504 shares of the company’s stock worth $27,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Monster Beverage from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, February 26th. UBS Group lifted their target price on Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. HSBC decreased their target price on Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Jefferies Financial Group lifted their target price on Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Morgan Stanley lifted their target price on Monster Beverage from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $63.11.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $53.46 on Friday. Monster Beverage Co. has a 1-year low of $47.13 and a 1-year high of $61.22. The business’s fifty day moving average price is $57.24 and its two-hundred day moving average price is $55.49. The company has a market capitalization of $55.63 billion, a P/E ratio of 34.49, a PEG ratio of 2.13 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, research analysts expect that Monster Beverage Co. will post 1.81 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.40% of the company’s stock.

Monster Beverage Company 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.