State Street Corp reduced its position in Monster Beverage Corporation (NASDAQ:MNST) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,778,744 shares of the company’s stock after selling 129,023 shares during the period. State Street Corp owned about 2.95% of Monster Beverage Corporation worth $833,569,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank increased its position in shares of Monster Beverage Corporation by 42.2% in the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after acquiring an additional 633 shares in the last quarter. Commonwealth Bank of Australia increased its position in shares of Monster Beverage Corporation by 11.0% in the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after acquiring an additional 232 shares in the last quarter. Sun Life Financial INC increased its position in shares of Monster Beverage Corporation by 29,250.0% in the second quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after acquiring an additional 2,925 shares in the last quarter. Dynamic Advisors Solutions LLC purchased a new position in shares of Monster Beverage Corporation in the second quarter worth approximately $202,000. Finally, Fiduciary Trust Co. purchased a new position in shares of Monster Beverage Corporation in the second quarter worth approximately $212,000. 65.89% of the stock is currently owned by institutional investors and hedge funds.

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In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director now owns 52,000 shares of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Several research firms have recently weighed in on MNST. UBS AG set a $59.00 target price on shares of Monster Beverage Corporation and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC lifted their target price on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and issued a $57.00 target price on shares of Monster Beverage Corporation in a research report on Wednesday, August 9th. Credit Suisse Group set a $61.00 target price on shares of Monster Beverage Corporation and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research downgraded shares of Monster Beverage Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $56.86.

Monster Beverage Corporation (NASDAQ MNST) traded up 0.09% during mid-day trading on Monday, reaching $55.42. 60,099 shares of the company’s stock were exchanged. Monster Beverage Corporation has a 52-week low of $40.64 and a 52-week high of $57.25. The stock has a 50-day moving average price of $55.64 and a 200 day moving average price of $50.92. The company has a market cap of $31.49 billion, a PE ratio of 41.92 and a beta of 1.02.

Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The firm had revenue of $907.07 million for the quarter, compared to analyst estimates of $901.38 million. During the same period last year, the company earned $0.99 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current fiscal year.

About Monster Beverage Corporation

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

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

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