Monster Beverage Corporation $MNST Stock Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,596,485 shares of the company’s stock after selling 154,751 shares during the quarter. Bank of New York Mellon Corp owned 0.47% of Monster Beverage worth $309,389,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MNST. Steigerwald Gordon & Koch Inc. acquired a new position in Monster Beverage during the third quarter worth about $27,000. Access Investment Management LLC bought a new position in shares of Monster Beverage during the 2nd quarter valued at about $25,000. First Horizon Corp bought a new position in shares of Monster Beverage during the 3rd quarter valued at about $29,000. Salomon & Ludwin LLC acquired a new position in shares of Monster Beverage in the 2nd quarter worth approximately $28,000. Finally, Armstrong Advisory Group Inc. raised its holdings in shares of Monster Beverage by 49.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock worth $30,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Down 1.1%

Shares of MNST stock opened at $80.04 on Friday. The company has a market capitalization of $78.20 billion, a price-to-earnings ratio of 45.48, a P/E/G ratio of 2.10 and a beta of 0.46. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $83.24. The stock’s fifty day simple moving average is $76.63 and its 200-day simple moving average is $69.13.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, sell-side analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Buying and Selling

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were 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 owned 21,993 shares in the company, valued at $1,568,760.69. This represents a 63.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Emelie Tirre sold 30,000 shares of Monster Beverage stock in a transaction on Friday, December 12th. The shares were 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 of the company’s stock, valued at $4,687,368.09. This trade represents a 31.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 274,981 shares of company stock worth $20,138,516. 8.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

MNST has been the subject of a number of research reports. Zacks Research cut shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. The Goldman Sachs Group lifted their target price on Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Evercore ISI boosted their target price on Monster Beverage from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Exane BNP Paribas upgraded Monster Beverage from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Finally, BNP Paribas Exane upgraded Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price objective on the stock in a report on Friday, January 16th. Fourteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $77.86.

Monster Beverage 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.