Trust Co. of Toledo NA OH Purchases New Stake in Monster Beverage Corporation $MNST

Trust Co. of Toledo NA OH acquired a new stake in Monster Beverage Corporation (NASDAQ:MNST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,400 shares of the company’s stock, valued at approximately $88,000.

Other large investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Monster Beverage in the first quarter valued at about $29,000. Webster Bank N. A. bought a new position in Monster Beverage in the 2nd quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Monster Beverage by 37.1% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after purchasing an additional 196 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Monster Beverage during the first quarter worth approximately $43,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Monster Beverage during the second quarter worth approximately $55,000. 72.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank Of Canada increased their price objective on Monster Beverage from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America raised their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. UBS Group raised their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $66.05.

Insider Activity

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.30% of the company’s stock.

Monster Beverage Stock Up 0.9%

MNST stock opened at $69.62 on Monday. The company’s 50-day moving average price is $64.31 and its two-hundred day moving average price is $62.01. The firm has a market cap of $67.98 billion, a P/E ratio of 43.24, a P/E/G ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $70.06.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. 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.