Park Place Capital Corp Trims Holdings in Monster Beverage Co. (NASDAQ:MNST)

Park Place Capital Corp reduced its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 34.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,470 shares of the company’s stock after selling 3,937 shares during the quarter. Park Place Capital Corp’s holdings in Monster Beverage were worth $443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Monster Beverage by 59.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company’s stock valued at $7,609,000 after buying an additional 49,495 shares during the last quarter. Alaethes Wealth LLC acquired a new stake in shares of Monster Beverage during the 4th quarter valued at approximately $1,528,000. Louisiana State Employees Retirement System acquired a new stake in shares of Monster Beverage during the 4th quarter valued at approximately $7,340,000. Defender Capital LLC. raised its position in shares of Monster Beverage by 30.2% during the 4th quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock valued at $21,378,000 after acquiring an additional 86,050 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Monster Beverage during the 4th quarter valued at approximately $517,035,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Monster Beverage

In related news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The disclosure for this sale can be found here. Insiders sold 307,221 shares of company stock valued at $16,070,374 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Wells Fargo & Company dropped their price target on Monster Beverage from $65.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 25th. JPMorgan Chase & Co. lowered Monster Beverage from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $66.00 to $59.00 in a research report on Thursday, April 25th. Piper Sandler increased their target price on Monster Beverage from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Redburn Atlantic initiated coverage on Monster Beverage in a research report on Wednesday, March 6th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.05.

Monster Beverage Stock Down 0.1 %

Shares of MNST stock opened at $49.90 on Tuesday. The stock has a 50-day simple moving average of $52.25 and a 200 day simple moving average of $55.28. Monster Beverage Co. has a fifty-two week low of $47.13 and a fifty-two week high of $61.22. The stock has a market capitalization of $51.98 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.98 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the business earned $0.38 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Monster Beverage Co. will post 1.76 earnings per share for the current year.

About Monster Beverage

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.