Monster Beverage Co. (NASDAQ:MNST) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,222 shares of the company’s stock after selling 5,151 shares during the quarter. QRG Capital Management Inc.’s holdings in Monster Beverage were worth $3,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sustainable Insight Capital Management LLC purchased a new stake in Monster Beverage in the 4th quarter worth $1,214,000. Van ECK Associates Corp grew its position in shares of Monster Beverage by 5.3% in the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock valued at $8,101,000 after purchasing an additional 7,780 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Monster Beverage by 6.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock worth $13,124,000 after purchasing an additional 15,611 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Monster Beverage by 6.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after purchasing an additional 9,496 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in Monster Beverage in the 4th quarter valued at about $7,090,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $54.65 on Friday. The firm has a market cap of $53.15 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The business’s fifty day simple moving average is $50.27 and its 200-day simple moving average is $51.18.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. Equities analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

MNST has been the subject of several research reports. Stifel Nicolaus boosted their price objective on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price target on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 price objective on shares of Monster Beverage in a report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Monster Beverage in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.26.

Insider Transactions at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $52.65, for a total value of $526,500.00. Following the sale, the chief financial officer now owns 74,924 shares of the company’s stock, valued at $3,944,748.60. The trade was a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.80% 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.