Monster Beverage Corporation $MNST Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 0.1% during the 4th quarter, Holdings Channel reports. The firm owned 4,589,661 shares of the company’s stock after selling 6,824 shares during the quarter. Bank of New York Mellon Corp’s holdings in Monster Beverage were worth $351,889,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MNST. Jones Financial Companies Lllp grew its holdings in Monster Beverage by 397.9% in the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after purchasing an additional 12,148 shares during the period. Sivia Capital Partners LLC grew its holdings in Monster Beverage by 247.7% in the second quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock valued at $813,000 after purchasing an additional 9,251 shares during the period. Cresset Asset Management LLC grew its holdings in Monster Beverage by 23.9% in the second quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock valued at $417,000 after purchasing an additional 1,281 shares during the period. Federated Hermes Inc. boosted its stake in shares of Monster Beverage by 55.9% in the second quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock worth $301,000 after acquiring an additional 1,721 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Monster Beverage by 151.7% in the second quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock worth $2,134,000 after acquiring an additional 20,538 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MNST. Citigroup lifted their price target on Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada lifted their price target on Monster Beverage from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen lowered Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Rothschild & Co Redburn raised Monster Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $90.00 in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus lowered their price target on Monster Beverage from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Fourteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.05.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $88.54 on Friday. The business’s 50 day moving average price is $79.94 and its 200-day moving average price is $78.53. The firm has a market capitalization of $86.59 billion, a PE ratio of 42.77, a P/E/G ratio of 2.93 and a beta of 0.54. Monster Beverage Corporation has a 1 year low of $58.09 and a 1 year high of $90.44.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 earnings per share. As a group, analysts expect that Monster Beverage Corporation will post 2.31 earnings per share for the current year.

Monster Beverage declared that its board has authorized a share buyback program on Friday, May 15th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark J. Hall sold 54,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the transaction, the director owned 299,246 shares of the company’s stock, valued at approximately $25,678,299.26. The trade was a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Kelly sold 7,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total value of $614,670.00. Following the transaction, the chief financial officer directly owned 62,553 shares in the company, valued at $5,492,778.93. This trade represents a 10.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 159,700 shares of company stock valued at $13,730,462. Insiders own 8.10% 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.