Monster Beverage Corporation $MNST Stock Holdings Reduced by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC cut its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 74.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,505 shares of the company’s stock after selling 18,844 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Monster Beverage were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Monster Beverage in the 2nd quarter worth $5,770,004,000. Bank of America Corp DE bought a new stake in Monster Beverage in the second quarter worth $1,195,360,000. Ninety One UK Ltd lifted its stake in Monster Beverage by 89.1% in the third quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock worth $545,444,000 after purchasing an additional 6,175,047 shares during the last quarter. Jupiter Topco LLC purchased a new stake in Monster Beverage during the second quarter valued at about $593,075,000. Finally, Legal & General Group Plc purchased a new stake in Monster Beverage during the second quarter valued at about $478,694,000. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MNST has been the subject of a number of recent research reports. UBS Group boosted their target price on Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a research note on Friday, August 7th. Evercore reduced their price target on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Finally, TD Cowen boosted their price objective on Monster Beverage from $45.00 to $47.50 and gave the company a “hold” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.86.

Monster Beverage Trading Up 3.3%

Shares of NASDAQ:MNST opened at $48.75 on Thursday. The company has a 50-day moving average price of $44.73 and a 200-day moving average price of $43.23. The company has a market cap of $95.50 billion, a price-to-earnings ratio of 45.14, a price-to-earnings-growth ratio of 2.97 and a beta of 0.51. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the firm earned $0.26 earnings per share. Monster Beverage’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, research analysts forecast that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

Monster Beverage Profile

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.