Zions Bancorporation National Association UT Sells 15,572 Shares of Monster Beverage Corporation $MNST

Zions Bancorporation National Association UT trimmed its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 18.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,102 shares of the company’s stock after selling 15,572 shares during the period. Zions Bancorporation National Association UT’s holdings in Monster Beverage were worth $4,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new position in Monster Beverage during the second quarter valued at approximately $544,584,000. Schroder Investment Management Group boosted its position in Monster Beverage by 4,877.8% during the 2nd quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company’s stock valued at $456,262,000 after acquiring an additional 7,137,552 shares in the last quarter. AQR Capital Management LLC boosted its position in Monster Beverage by 467.0% during the 2nd quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock valued at $422,996,000 after acquiring an additional 5,641,160 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Monster Beverage in the 2nd quarter valued at $157,063,000. Finally, Vanguard Group Inc. raised its position in shares of Monster Beverage by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after acquiring an additional 2,122,685 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling

In other Monster Beverage news, Director Rodney C. Sacks sold 206,543 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $73.58, for a total value of $15,197,433.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emelie Tirre sold 30,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the sale, the insider directly owned 63,939 shares in the company, valued at approximately $4,687,368.09. The trade was a 31.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MNST has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on Monster Beverage from $75.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. TD Cowen reiterated a “hold” rating on shares of Monster Beverage in a research note on Thursday, January 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $81.00 target price (up previously from $75.00) on shares of Monster Beverage in a research report on Monday, December 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $96.00 price objective (up from $87.00) on shares of Monster Beverage in a research report on Monday, January 26th. Finally, UBS Group reissued a “neutral” rating and issued a $84.00 target price (up from $75.00) on shares of Monster Beverage in a research report on Wednesday, January 14th. Fourteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.90.

Monster Beverage Stock Up 0.4%

Shares of MNST stock opened at $81.48 on Monday. Monster Beverage Corporation has a 52-week low of $48.95 and a 52-week high of $83.24. The stock has a market cap of $79.61 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 2.12 and a beta of 0.45. The business has a 50-day simple moving average of $78.17 and a 200-day simple moving average of $70.93.

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.