Monster Beverage Corporation $MNST Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 511,032 shares of the company’s stock after selling 6,981 shares during the quarter. Truist Financial Corp’s holdings in Monster Beverage were worth $32,011,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MNST. Twin Capital Management Inc. grew its position in shares of Monster Beverage by 11.6% in the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock worth $305,000 after acquiring an additional 540 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Monster Beverage by 2.4% during the first quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company’s stock worth $18,475,000 after purchasing an additional 7,465 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Monster Beverage by 76.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company’s stock worth $3,915,000 after purchasing an additional 28,932 shares during the period. Principal Financial Group Inc. increased its stake in Monster Beverage by 0.9% during the first quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company’s stock valued at $75,455,000 after purchasing an additional 11,443 shares during the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new stake in shares of Monster Beverage during the second quarter worth $365,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Stock Up 0.2%

Shares of MNST opened at $67.58 on Friday. The firm has a market capitalization of $65.99 billion, a PE ratio of 41.98, a P/E/G ratio of 2.35 and a beta of 0.54. The firm has a 50-day moving average price of $63.34 and a 200 day moving average price of $61.50. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $67.89.

Monster Beverage (NASDAQ:MNST) last issued its quarterly 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 net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the business posted $0.41 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MNST has been the subject of a number of recent research reports. Rothschild & Co Redburn downgraded shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Wednesday, July 9th. The Goldman Sachs Group increased their price target on Monster Beverage from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Morgan Stanley boosted their price objective on Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Royal Bank Of Canada set a $68.00 price objective on Monster Beverage and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Redburn Atlantic cut Monster Beverage from a “strong-buy” rating to a “hold” rating and cut their target price for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Monster Beverage currently has a consensus rating of “Hold” and an average target price of $65.19.

About Monster Beverage

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.