Zions Bancorporation National Association UT Cuts Stock Position in Monster Beverage Corporation $MNST

Zions Bancorporation National Association UT trimmed its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 18.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,102 shares of the company’s stock after selling 15,572 shares during the period. Zions Bancorporation National Association UT’s holdings in Monster Beverage were worth $4,517,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MNST. Armstrong Advisory Group Inc. boosted its holdings in Monster Beverage by 49.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock worth $30,000 after buying an additional 146 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Monster Beverage by 4.1% in the third quarter. D.A. Davidson & CO. now owns 3,930 shares of the company’s stock worth $265,000 after acquiring an additional 155 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in shares of Monster Beverage by 3.2% during the third quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company’s stock worth $353,000 after purchasing an additional 161 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Monster Beverage by 13.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,490 shares of the company’s stock valued at $93,000 after purchasing an additional 176 shares during the last quarter. Finally, Accretive Wealth Partners LLC lifted its holdings in Monster Beverage by 1.0% in the 2nd quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock valued at $1,263,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.4%

Shares of Monster Beverage stock opened at $81.48 on Monday. The firm has a market cap of $79.61 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 2.12 and a beta of 0.45. Monster Beverage Corporation has a 52 week low of $48.95 and a 52 week high of $83.24. The business’s fifty day simple moving average is $78.17 and its 200-day simple moving average is $70.93.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Argus raised their price target on shares of Monster Beverage from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 target price on shares of Monster Beverage in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft upped their price target on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, November 7th. TD Cowen reiterated a “hold” rating on shares of Monster Beverage in a research report on Thursday, January 8th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $73.00 target price (up from $53.00) on shares of Monster Beverage in a report on Wednesday, December 3rd. Fourteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average target price of $78.90.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Rodney C. Sacks sold 206,543 shares of Monster Beverage stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $73.58, for a total transaction of $15,197,433.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Emelie Tirre sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the completion of the sale, the insider directly owned 63,939 shares in the company, valued at $4,687,368.09. This trade represents a 31.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.