US Bancorp DE Decreases Stake in Monster Beverage Corporation $MNST

US Bancorp DE lowered its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 0.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 115,775 shares of the company’s stock after selling 500 shares during the quarter. US Bancorp DE’s holdings in Monster Beverage were worth $7,252,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Monster Beverage by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after acquiring an additional 1,151,175 shares during the period. Invesco Ltd. boosted its holdings in Monster Beverage by 6.6% in the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after acquiring an additional 563,353 shares during the period. Ninety One UK Ltd boosted its holdings in Monster Beverage by 4.9% in the 2nd quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock worth $560,282,000 after acquiring an additional 418,918 shares during the period. Nuveen LLC purchased a new position in Monster Beverage in the 1st quarter worth approximately $497,157,000. Finally, Northern Trust Corp boosted its holdings 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 acquiring an additional 73,737 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company set a $73.00 price target on Monster Beverage and gave the stock an “overweight” rating in a report on Friday, August 8th. Bank of America upped their price target on Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Redburn Atlantic cut Monster Beverage from a “strong-buy” rating to a “hold” rating and decreased their price target for the stock from $63.00 to $60.00 in a report on Wednesday, July 9th. Morgan Stanley upped their price target on Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on Monster Beverage from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Thirteen investment 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $66.05.

Monster Beverage Stock Up 0.9%

Shares of MNST opened at $69.62 on Monday. The business’s 50 day moving average is $64.31 and its two-hundred day moving average is $62.01. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $70.06. The firm has a market cap of $67.98 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 2.42 and a beta of 0.54.

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

Insider Activity

In related news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director directly owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

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.