QRG Capital Management Inc. Sells 5,151 Shares of Monster Beverage Co. (NASDAQ:MNST)

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

Several other hedge funds and other institutional investors have also bought and sold shares of MNST. Sustainable Insight Capital Management LLC purchased a new stake in shares of Monster Beverage during the 4th quarter worth $1,214,000. Van ECK Associates Corp lifted its position in shares of Monster Beverage by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock valued at $8,101,000 after buying an additional 7,780 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Monster Beverage by 6.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock valued at $13,124,000 after buying an additional 15,611 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Monster Beverage by 6.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after buying an additional 9,496 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in shares of Monster Beverage during the 4th quarter worth approximately $7,090,000. Institutional investors own 72.36% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $52.65, for a total value of $526,500.00. Following the completion of the transaction, the chief financial officer now directly owns 74,924 shares in the company, valued at $3,944,748.60. The trade was a 11.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.80% of the company’s stock.

Monster Beverage Trading Up 5.3 %

NASDAQ MNST opened at $54.65 on Friday. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The company has a market capitalization of $53.15 billion, a PE ratio of 35.03, a P/E/G ratio of 2.28 and a beta of 0.74. The company has a fifty day moving average of $50.27 and a 200 day moving average of $51.18.

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

Wall Street Analyst Weigh In

MNST has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen raised their price objective on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on Monster Beverage from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday. UBS Group decreased their price target on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Citigroup boosted their price target on Monster Beverage from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.26.

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.