Bank of New York Mellon Corp Sells 172,327 Shares of Monster Beverage Co. (NASDAQ:MNST)

Bank of New York Mellon Corp lessened its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 3.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 5,299,251 shares of the company’s stock after selling 172,327 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.51% of Monster Beverage worth $264,698,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MNST. International Assets Investment Management LLC lifted its holdings in Monster Beverage by 1,220.2% in the fourth quarter. International Assets Investment Management LLC now owns 36,755 shares of the company’s stock valued at $2,117,000 after buying an additional 33,971 shares during the period. Federated Hermes Inc. increased its holdings in Monster Beverage by 377.4% in the fourth quarter. Federated Hermes Inc. now owns 16,402 shares of the company’s stock worth $945,000 after purchasing an additional 12,966 shares in the last quarter. CWM LLC lifted its stake in Monster Beverage by 9.0% in the fourth quarter. CWM LLC now owns 14,416 shares of the company’s stock valued at $831,000 after buying an additional 1,196 shares during the period. Syon Capital LLC boosted its holdings in shares of Monster Beverage by 16.9% during the 4th quarter. Syon Capital LLC now owns 8,435 shares of the company’s stock worth $486,000 after buying an additional 1,217 shares in the last quarter. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of Monster Beverage during the 4th quarter worth approximately $1,200,000. Institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MNST. Evercore ISI dropped their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. UBS Group cut their price objective on shares of Monster Beverage from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley decreased their target price on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Roth Mkm cut their price target on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and an average price target of $55.85.

Insiders Place Their Bets

In other news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now directly owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the transaction, the director now owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark J. Hall sold 250,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $52.22, for a total value of $13,055,000.00. Following the transaction, the director now owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,221 shares of company stock valued at $16,070,374. Company insiders own 7.80% of the company’s stock.

Monster Beverage Trading Up 1.4 %

Shares of MNST opened at $47.28 on Tuesday. The stock has a 50 day moving average of $49.22 and a 200 day moving average of $53.12. The company has a market capitalization of $49.25 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 2.09 and a beta of 0.76. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, equities research analysts predict that Monster Beverage Co. will post 1.75 earnings per share for the current year.

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.