Bank of New York Mellon Corp Sells 138,905 Shares of Monster Beverage Corporation $MNST

Bank of New York Mellon Corp trimmed its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,751,236 shares of the company’s stock after selling 138,905 shares during the quarter. Bank of New York Mellon Corp owned about 0.49% of Monster Beverage worth $297,617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MNST. Vanguard Group Inc. boosted its position in shares of Monster Beverage by 1.8% during the 1st 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. Invesco Ltd. raised its stake in Monster Beverage by 6.6% in the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock valued at $535,712,000 after purchasing an additional 563,353 shares in the last quarter. Ninety One UK Ltd lifted its position in Monster Beverage by 4.9% during the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock valued at $560,282,000 after purchasing an additional 418,918 shares during the last quarter. Nuveen LLC bought a new stake in Monster Beverage during the first quarter valued at approximately $497,157,000. Finally, Northern Trust Corp grew its stake in Monster Beverage by 1.0% in the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock worth $434,901,000 after buying an additional 73,737 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MNST shares. Stifel Nicolaus increased their price target on shares of Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, October 24th. UBS Group restated a “neutral” rating on shares of Monster Beverage in a research report on Friday. Royal Bank Of Canada upped their price objective on Monster Beverage from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Finally, Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $67.48.

Monster Beverage Stock Performance

Shares of MNST stock opened at $66.87 on Wednesday. The firm has a market cap of $65.29 billion, a P/E ratio of 41.53, a P/E/G ratio of 2.31 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.72. The business’s 50 day moving average price is $66.23 and its 200-day moving average price is $63.30.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating 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 in the prior year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage Company 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.