Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 45.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,012 shares of the company’s stock after selling 160,583 shares during the period. Calamos Advisors LLC’s holdings in Monster Beverage were worth $9,441,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Monster Beverage by 1,220.2% in the fourth quarter. International Assets Investment Management LLC now owns 36,755 shares of the company’s stock valued at $2,117,000 after acquiring an additional 33,971 shares in the last quarter. Federated Hermes Inc. raised its stake in Monster Beverage by 377.4% in the fourth quarter. Federated Hermes Inc. now owns 16,402 shares of the company’s stock valued at $945,000 after buying an additional 12,966 shares in the last quarter. CWM LLC raised its stake in Monster Beverage by 9.0% in the fourth quarter. CWM LLC now owns 14,416 shares of the company’s stock valued at $831,000 after buying an additional 1,196 shares in the last quarter. Syon Capital LLC raised its stake in Monster Beverage by 16.9% in the fourth quarter. Syon Capital LLC now owns 8,435 shares of the company’s stock valued at $486,000 after buying an additional 1,217 shares in the last quarter. Finally, Silver Oak Securities Incorporated acquired a new stake in Monster Beverage in the fourth quarter valued at $1,200,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on MNST shares. Bank of America cut their price target on Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Piper Sandler lowered their price target on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Evercore ISI reduced their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Citigroup reduced their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.85.

Insiders Place Their Bets

In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s 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 transaction, 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 accessible through this link. In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction dated 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 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 SEC, which is accessible through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the completion of the sale, the director now owns 532,754 shares in the company, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. Insiders have sold 307,221 shares of company stock worth $16,070,374 in the last quarter. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Price Performance

MNST stock traded up $0.17 during midday trading on Friday, hitting $46.65. The stock had a trading volume of 4,507,863 shares, compared to its average volume of 7,345,030. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The company’s 50-day moving average price is $49.26 and its 200 day moving average price is $53.19. The firm has a market cap of $48.60 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Monster Beverage Co. will post 1.75 EPS for the current year.

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.