Keybank National Association OH reduced its stake in shares of Monster Beverage Corp (NASDAQ:MNST) by 2.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,137 shares of the company’s stock after selling 221 shares during the period. Keybank National Association OH’s holdings in Monster Beverage were worth $519,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. AJO LP increased its stake in Monster Beverage by 811.6% in the 1st quarter. AJO LP now owns 1,754,408 shares of the company’s stock worth $95,756,000 after buying an additional 1,561,959 shares during the period. Banco Santander S.A. raised its position in Monster Beverage by 1,339.2% during the first quarter. Banco Santander S.A. now owns 863,848 shares of the company’s stock valued at $47,148,000 after purchasing an additional 803,827 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Monster Beverage by 36.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,227,235 shares of the company’s stock valued at $66,982,000 after purchasing an additional 329,076 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Monster Beverage by 121.3% during the first quarter. Toronto Dominion Bank now owns 554,607 shares of the company’s stock worth $30,267,000 after buying an additional 303,973 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Monster Beverage by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 5,335,460 shares of the company’s stock worth $262,159,000 after buying an additional 289,340 shares in the last quarter. 65.88% of the stock is owned by hedge funds and other institutional investors.
Shares of Monster Beverage stock opened at $58.09 on Wednesday. Monster Beverage Corp has a twelve month low of $47.74 and a twelve month high of $66.38. The stock has a market cap of $31.16 billion, a price-to-earnings ratio of 32.31, a P/E/G ratio of 1.96 and a beta of 1.30. The company’s fifty day moving average is $62.65 and its 200 day moving average is $60.46.
Several research analysts have recently issued reports on MNST shares. Credit Suisse Group set a $77.00 price target on shares of Monster Beverage and gave the stock a “buy” rating in a report on Friday, May 3rd. Jefferies Financial Group raised their price target on shares of Monster Beverage from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Co raised their price target on shares of Monster Beverage from $56.00 to $60.00 and gave the company a “market perform” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. cut their price target on shares of Monster Beverage from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price target (down from $67.00) on shares of Monster Beverage in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $65.21.
In related news, insider Guy Carling sold 24,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.82, for a total value of $1,579,680.00. Following the transaction, the insider now owns 33,535 shares of the company’s stock, valued at approximately $2,207,273.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.20% of the company’s stock.
Monster Beverage 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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