Trust Co. of Toledo NA OH Makes New Investment in Monster Beverage Corporation $MNST

Trust Co. of Toledo NA OH acquired a new position in Monster Beverage Corporation (NASDAQ:MNST) during the 2nd quarter, HoldingsChannel reports. The fund acquired 1,400 shares of the company’s stock, valued at approximately $88,000.

Several other institutional investors also recently modified their holdings of MNST. Nuveen LLC bought a new stake in shares of Monster Beverage in the 1st quarter valued at about $497,157,000. Montrusco Bolton Investments Inc. grew its position in shares of Monster Beverage by 54.7% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 5,366,126 shares of the company’s stock valued at $303,728,000 after buying an additional 1,897,466 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Monster Beverage by 34.6% in 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 valued at $425,921,000 after acquiring an additional 1,872,075 shares during the last quarter. Amundi boosted its holdings in Monster Beverage by 69.8% in the first quarter. Amundi now owns 3,032,591 shares of the company’s stock valued at $180,894,000 after acquiring an additional 1,246,114 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Monster Beverage by 1.8% in the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock valued at $3,791,313,000 after acquiring an additional 1,151,175 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the transaction, the director directly owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $69.62 on Monday. The business’s 50 day simple moving average is $64.31 and its two-hundred day simple moving average is $62.01. The firm has a market cap of $67.98 billion, a P/E ratio of 43.24, a PEG ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $70.06.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MNST. Morgan Stanley upped their price objective on shares of Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Roth Capital reaffirmed a “neutral” rating and set a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Redburn Atlantic cut shares of Monster Beverage from a “strong-buy” rating to a “hold” rating and cut their price target for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Monster Beverage in a research report on Wednesday, October 8th. Finally, Piper Sandler upgraded Monster Beverage from a “neutral” rating to an “overweight” rating and upped their target price for the company from $54.00 to $74.00 in a research report on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.05.

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.