Chevy Chase Trust Holdings LLC Purchases 5,118 Shares of Monster Beverage Corporation $MNST

Chevy Chase Trust Holdings LLC lifted its position in Monster Beverage Corporation (NASDAQ:MNST) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 450,840 shares of the company’s stock after acquiring an additional 5,118 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Monster Beverage were worth $28,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Monster Beverage in the first quarter valued at $29,000. Webster Bank N. A. bought a new position in shares of Monster Beverage in the second quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after buying an additional 196 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Monster Beverage in the first quarter valued at $43,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Monster Beverage in the second quarter valued at $55,000. 72.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MNST has been the subject of several research reports. 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 report on Wednesday, August 13th. Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and raised their price target for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Royal Bank Of Canada raised their price target on Monster Beverage from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Morgan Stanley raised their price target on Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Wells Fargo & Company set a $73.00 price target on Monster Beverage and gave the company an “overweight” rating in a report on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Monster Beverage currently has a consensus rating of “Hold” and a consensus target price of $66.05.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage 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 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 can be accessed through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

MNST opened at $70.22 on Friday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.65. The company has a market capitalization of $68.56 billion, a P/E ratio of 43.61, a P/E/G ratio of 2.44 and a beta of 0.54. The stock has a fifty day moving average of $65.12 and a 200-day moving average of $62.32.

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

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.