American International Group Inc. Reduces Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

American International Group Inc. decreased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409,341 shares of the company’s stock after selling 2,000 shares during the quarter. American International Group Inc.’s holdings in Monster Beverage were worth $23,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP raised its holdings in 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 during the period. Clearbridge Investments LLC increased its holdings in shares of Monster Beverage by 2.9% in the fourth quarter. Clearbridge Investments LLC now owns 11,622,228 shares of the company’s stock worth $669,557,000 after purchasing an additional 330,740 shares during the period. Capital Research Global Investors increased its holdings in shares of Monster Beverage by 40.6% in the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock worth $603,659,000 after purchasing an additional 3,026,657 shares during the period. Norges Bank bought a new position in shares of Monster Beverage in the fourth quarter worth $517,035,000. Finally, Northern Trust Corp increased its holdings in shares of Monster Beverage by 3.3% in the third quarter. Northern Trust Corp now owns 7,638,653 shares of the company’s stock worth $404,467,000 after purchasing an additional 243,401 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

NASDAQ MNST traded down $0.19 during trading on Wednesday, hitting $52.00. 36,709,214 shares of the company’s stock traded hands, compared to its average volume of 6,680,700. The stock has a fifty day moving average of $54.21 and a two-hundred day moving average of $55.89. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $61.22. The firm has a market cap of $54.17 billion, a P/E ratio of 32.70, a PEG ratio of 2.18 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, analysts expect that Monster Beverage Co. will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MNST. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, February 26th. BMO Capital Markets decreased their price target on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Truist Financial cut shares of Monster Beverage from a “buy” rating to a “sell” rating and decreased their price target for the stock from $65.00 to $46.00 in a report on Thursday, April 25th. UBS Group decreased their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Redburn Atlantic began coverage on Monster Beverage in a research note on Wednesday, March 6th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.32.

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.