SVB Wealth LLC Sells 6,378 Shares of Monster Beverage Corporation $MNST

SVB Wealth LLC trimmed its position in Monster Beverage Corporation (NASDAQ:MNST) by 39.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,854 shares of the company’s stock after selling 6,378 shares during the quarter. SVB Wealth LLC’s holdings in Monster Beverage were worth $756,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its stake in Monster Beverage by 136.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after acquiring an additional 205 shares during the last quarter. Physician Wealth Advisors Inc. increased its stake in Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after acquiring an additional 315 shares during the last quarter. First Horizon Corp bought a new position in Monster Beverage in the third quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. increased its stake in Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after acquiring an additional 415 shares during the last quarter. Finally, Triumph Capital Management bought a new position in Monster Beverage in the third quarter valued at approximately $36,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $85.87 on Wednesday. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $88.77. The firm has a market capitalization of $83.98 billion, a P/E ratio of 41.48, a P/E/G ratio of 2.92 and a beta of 0.50. The company’s 50 day moving average price is $76.14 and its two-hundred day moving average price is $76.29.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business posted $0.47 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. On average, analysts expect that Monster Beverage Corporation will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

MNST has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $100.00 price objective (up from $96.00) on shares of Monster Beverage in a research note on Sunday. Jefferies Financial Group set a $100.00 price objective on shares of Monster Beverage in a research note on Wednesday, March 11th. Wall Street Zen cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. JPMorgan Chase & Co. decreased their price objective on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Finally, UBS Group reissued a “neutral” rating and issued a $84.00 price objective (up from $80.00) on shares of Monster Beverage in a research note on Friday. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and an average price target of $88.37.

Monster Beverage Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.