Webster Bank N. A. Invests $38,000 in Monster Beverage Corporation $MNST

Webster Bank N. A. acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 604 shares of the company’s stock, valued at approximately $38,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Monster Beverage by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after acquiring an additional 1,151,175 shares during the period. Invesco Ltd. increased its position in shares of Monster Beverage by 6.6% during the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after purchasing an additional 563,353 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Monster Beverage during the first quarter worth approximately $497,157,000. Northern Trust Corp increased its holdings in shares of Monster Beverage by 1.0% during the first quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock worth $434,901,000 after buying an additional 73,737 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Monster Beverage by 34.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,278,206 shares of the company’s stock worth $425,921,000 after buying an additional 1,872,075 shares in the last quarter. 72.36% of the stock is owned by institutional investors.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director owned 51,191 shares in the company, valued at $3,262,402.43. The trade was a 16.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.80% of the stock is currently owned by corporate insiders.

Monster Beverage Trading Down 0.5%

MNST opened at $64.35 on Tuesday. The stock has a market capitalization of $62.83 billion, a PE ratio of 39.97, a PEG ratio of 2.25 and a beta of 0.54. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $66.75. The firm has a 50-day moving average price of $61.72 and a two-hundred day moving average price of $60.63.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the company earned $0.41 EPS. Monster Beverage’s revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

MNST has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Roth Capital reaffirmed a “neutral” rating and set a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Royal Bank Of Canada set a $68.00 price objective on shares of Monster Beverage and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Bank of America raised their price objective on shares of Monster Beverage from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Monster Beverage presently has an average rating of “Hold” and an average target price of $65.10.

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.