Cullen Frost Bankers Inc. Sells 9,557 Shares of Monster Beverage Corporation $MNST

Cullen Frost Bankers Inc. decreased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 149,530 shares of the company’s stock after selling 9,557 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Monster Beverage were worth $10,065,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its holdings in Monster Beverage by 397.9% in the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after buying an additional 12,148 shares during the period. Sivia Capital Partners LLC raised its position in shares of Monster Beverage by 247.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after acquiring an additional 9,251 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Monster Beverage by 31.0% in the 2nd quarter. Ballentine Partners LLC now owns 7,332 shares of the company’s stock valued at $459,000 after purchasing an additional 1,736 shares during the period. TD Private Client Wealth LLC bought a new stake in shares of Monster Beverage during the 2nd quarter valued at about $562,000. Finally, Perigon Wealth Management LLC grew its stake in Monster Beverage by 5.1% during the second quarter. Perigon Wealth Management LLC now owns 17,112 shares of the company’s stock worth $1,072,000 after purchasing an additional 827 shares during the period. 72.36% of the stock is owned by institutional investors.

Monster Beverage Trading Up 1.4%

MNST opened at $82.00 on Monday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $82.19. The company has a market cap of $80.12 billion, a price-to-earnings ratio of 46.59, a PEG ratio of 2.15 and a beta of 0.46. The company’s fifty day moving average price is $75.94 and its two-hundred day moving average price is $68.66.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a net margin of 21.65% and a return on equity of 27.76%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In related news, insider Guy Carling sold 38,438 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the sale, the insider directly owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. This represents a 63.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rodney C. Sacks sold 206,543 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.58, for a total value of $15,197,433.94. The SEC filing for this sale provides additional information. Insiders sold a total of 274,981 shares of company stock valued at $20,138,516 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MNST has been the topic of several recent analyst reports. Piper Sandler set a $85.00 price target on Monster Beverage in a research note on Wednesday, December 3rd. Bank of America boosted their target price on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Citigroup restated a “buy” rating and issued a $90.00 price target (up from $87.00) on shares of Monster Beverage in a report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their price target on shares of Monster Beverage from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $79.00 price objective on shares of Monster Beverage in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.62.

About Monster Beverage

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.