Versant Capital Management Inc Grows Position in Monster Beverage Co. (NASDAQ:MNST)

Versant Capital Management Inc boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 502.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 952 shares of the company’s stock after purchasing an additional 794 shares during the period. Versant Capital Management Inc’s holdings in Monster Beverage were worth $48,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MNST. LRI Investments LLC purchased a new position in shares of Monster Beverage in the first quarter valued at about $26,000. ICA Group Wealth Management LLC purchased a new position in shares of Monster Beverage in the fourth quarter valued at about $27,000. Tortoise Investment Management LLC lifted its position in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 396 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Monster Beverage in the first quarter valued at about $37,000. Finally, Rise Advisors LLC lifted its position in shares of Monster Beverage by 187.6% in the first quarter. Rise Advisors LLC now owns 716 shares of the company’s stock valued at $42,000 after acquiring an additional 467 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of MNST traded up $0.33 during mid-day trading on Tuesday, reaching $50.80. 5,145,777 shares of the company’s stock traded hands, compared to its average volume of 7,266,758. The stock has a market cap of $52.92 billion, a P/E ratio of 31.95, a P/E/G ratio of 2.09 and a beta of 0.76. The stock’s 50-day moving average is $50.43 and its two-hundred day moving average is $54.04. Monster Beverage Co. has a 12 month low of $47.13 and a 12 month high of $61.22.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BNP Paribas assumed coverage on Monster Beverage in a research report on Monday, June 24th. They issued an “underperform” rating and a $48.00 price objective on the stock. Piper Sandler boosted 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. TD Cowen decreased their target price on Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, July 15th. Truist Financial downgraded Monster Beverage from a “buy” rating to a “sell” rating and decreased their target price for the stock from $65.00 to $46.00 in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased 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 Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.33.

Insider Activity

In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’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 transaction, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was 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 of the company’s stock, valued at approximately $99,404,574. 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.