Zeke Capital Advisors LLC Lowers Position in Monster Beverage Corp (NASDAQ:MNST)

Zeke Capital Advisors LLC cut its stake in Monster Beverage Corp (NASDAQ:MNST) by 27.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,536 shares of the company’s stock after selling 2,492 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Monster Beverage were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. purchased a new stake in shares of Monster Beverage during the second quarter valued at approximately $26,000. West Oak Capital LLC purchased a new stake in shares of Monster Beverage during the second quarter valued at approximately $38,000. SevenBridge Financial Group LLC purchased a new stake in shares of Monster Beverage during the second quarter valued at approximately $50,000. Old North State Trust LLC purchased a new stake in shares of Monster Beverage during the first quarter valued at approximately $48,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Monster Beverage during the first quarter valued at approximately $55,000. 66.28% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:MNST traded down $0.96 during mid-day trading on Wednesday, reaching $59.22. 359,858 shares of the company’s stock traded hands, compared to its average volume of 2,154,988. Monster Beverage Corp has a 12-month low of $47.74 and a 12-month high of $66.38. The firm has a market cap of $32.71 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The firm’s 50 day moving average is $64.16.

MNST has been the subject of a number of research analyst reports. Credit Suisse Group set a $77.00 price target on Monster Beverage and gave the company a “buy” rating in a research report on Friday, May 3rd. ValuEngine lowered Monster Beverage from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. Macquarie set a $63.00 price objective on Monster Beverage and gave the company a “hold” rating in a report on Friday, May 3rd. UBS Group set a $53.00 price target on Monster Beverage and gave the stock a “sell” rating in a report on Friday, May 3rd. Finally, Zacks Investment Research raised Monster Beverage from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $64.17.

In related news, insider Guy Carling sold 24,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.82, for a total transaction of $1,579,680.00. Following the transaction, the insider now owns 33,535 shares in the company, valued at approximately $2,207,273.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Emelie Tirre sold 24,762 shares of Monster Beverage stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $62.70, for a total value of $1,552,577.40. The disclosure for this sale can be found here. 10.20% of the stock is owned by insiders.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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