Cullinan Associates Inc. Sells 32,000 Shares of Monster Beverage Co. (NASDAQ:MNST)

Cullinan Associates Inc. decreased its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 34.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,700 shares of the company’s stock after selling 32,000 shares during the quarter. Cullinan Associates Inc.’s holdings in Monster Beverage were worth $3,598,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its position in Monster Beverage by 5.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,659 shares of the company’s stock worth $211,000 after buying an additional 196 shares during the last quarter. PFG Investments LLC lifted its position in Monster Beverage by 2.6% during the fourth quarter. PFG Investments LLC now owns 7,761 shares of the company’s stock valued at $447,000 after purchasing an additional 199 shares during the period. CENTRAL TRUST Co boosted its holdings in Monster Beverage by 3.7% in the fourth quarter. CENTRAL TRUST Co now owns 5,908 shares of the company’s stock worth $340,000 after purchasing an additional 213 shares during the last quarter. Savant Capital LLC grew its position in Monster Beverage by 4.6% in the 4th quarter. Savant Capital LLC now owns 5,200 shares of the company’s stock worth $300,000 after purchasing an additional 227 shares during the period. Finally, Fulton Bank N.A. raised its stake in Monster Beverage by 1.2% during the 1st quarter. Fulton Bank N.A. now owns 20,892 shares of the company’s stock valued at $1,238,000 after buying an additional 240 shares during the last quarter. 72.36% of the stock is owned by institutional investors.

Monster Beverage Stock Down 1.2 %

MNST traded down $0.61 during trading on Tuesday, reaching $49.29. The company had a trading volume of 2,200,667 shares, compared to its average volume of 7,565,437. The business has a 50 day simple moving average of $52.25 and a 200-day simple moving average of $55.28. The stock has a market cap of $51.35 billion, a P/E ratio of 31.38, a PEG ratio of 1.98 and a beta of 0.76. Monster Beverage Co. has a 52 week low of $47.13 and a 52 week high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. Monster Beverage’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts expect that Monster Beverage Co. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley cut their price objective on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Truist Financial downgraded 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 research report on Thursday, April 25th. Roth Mkm lowered their target price on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 12th. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of Monster Beverage in a research report on Monday. Finally, JPMorgan Chase & Co. cut Monster Beverage from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $66.00 to $59.00 in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.05.

Insider Activity

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

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.