Monster Beverage Corporation $MNST Stake Reduced by US Bancorp DE

US Bancorp DE reduced its stake in shares of Monster Beverage Corporation (NASDAQ:MNSTFree Report) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,775 shares of the company’s stock after selling 500 shares during the quarter. US Bancorp DE’s holdings in Monster Beverage were worth $7,252,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allegiance Financial Group Advisory Services LLC bought a new position in Monster Beverage during the 2nd quarter worth $237,000. Optas LLC grew its stake in shares of Monster Beverage by 24.0% in the second quarter. Optas LLC now owns 5,370 shares of the company’s stock worth $336,000 after purchasing an additional 1,039 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Monster Beverage by 13.5% in the second quarter. Venturi Wealth Management LLC now owns 9,239 shares of the company’s stock worth $579,000 after purchasing an additional 1,102 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of Monster Beverage by 28.6% in the second quarter. KLP Kapitalforvaltning AS now owns 359,594 shares of the company’s stock worth $22,525,000 after purchasing an additional 79,900 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of Monster Beverage in the second quarter worth $1,783,000. 72.36% of the stock is currently owned by institutional investors.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Morgan Stanley increased their price target on Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Royal Bank Of Canada increased their price target on Monster Beverage from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday. Roth Capital reissued a “neutral” rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Finally, Bank of America increased their price target on Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Thirteen equities research 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 has an average rating of “Hold” and an average target price of $66.05.

Get Our Latest Analysis on Monster Beverage

Monster Beverage Stock Up 0.9%

Shares of MNST stock opened at $69.62 on Monday. The stock has a 50-day simple moving average of $64.31 and a 200 day simple moving average of $62.01. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.06. The stock has a market capitalization of $67.98 billion, a P/E ratio of 43.24, a P/E/G ratio of 2.42 and a beta of 0.54.

Monster Beverage (NASDAQ:MNSTGet Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the business posted $0.41 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

About Monster Beverage

(Free Report)

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.

Further Reading

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

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