Monster Beverage Corporation $MNST Stock Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 3.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,596,485 shares of the company’s stock after selling 154,751 shares during the period. Bank of New York Mellon Corp’s holdings in Monster Beverage were worth $309,389,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MNST. Vanguard Group Inc. lifted its stake in Monster Beverage by 0.9% in the second quarter. Vanguard Group Inc. now owns 65,360,899 shares of the company’s stock valued at $4,094,207,000 after acquiring an additional 574,275 shares during the last quarter. State Street Corp lifted its stake in shares of Monster Beverage by 2.6% in the 2nd quarter. State Street Corp now owns 34,929,818 shares of the company’s stock valued at $2,188,004,000 after purchasing an additional 900,479 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in Monster Beverage by 1.5% in the second quarter. Loomis Sayles & Co. L P now owns 26,450,305 shares of the company’s stock worth $1,656,847,000 after purchasing an additional 385,692 shares in the last quarter. Geode Capital Management LLC increased its position in Monster Beverage by 4.1% during the second quarter. Geode Capital Management LLC now owns 18,680,424 shares of the company’s stock worth $1,165,292,000 after buying an additional 742,518 shares during the last quarter. Finally, Invesco Ltd. increased its position in Monster Beverage by 20.0% during the second quarter. Invesco Ltd. now owns 10,983,411 shares of the company’s stock worth $688,001,000 after buying an additional 1,829,064 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on MNST shares. BNP Paribas Exane upgraded Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target for the company in a research note on Friday, January 16th. Piper Sandler set a $85.00 price objective on shares of Monster Beverage in a research note on Wednesday, December 3rd. BMO Capital Markets restated a “market perform” rating and set a $73.00 price target (up from $53.00) on shares of Monster Beverage in a report on Wednesday, December 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $79.00 price objective on shares of Monster Beverage in a research note on Tuesday, November 4th. Finally, TD Cowen reissued a “hold” rating on shares of Monster Beverage in a research report on Thursday, January 8th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.86.

Insider Activity

In related news, insider Emelie Tirre sold 30,000 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.31, for a total value of $2,199,300.00. Following the completion of the transaction, the insider directly owned 63,939 shares in the company, valued at approximately $4,687,368.09. This represents a 31.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rodney C. Sacks sold 206,543 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.58, for a total value of $15,197,433.94. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 274,981 shares of company stock worth $20,138,516. Company insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST opened at $80.04 on Friday. The company has a 50-day simple moving average of $76.63 and a 200-day simple moving average of $69.13. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $83.24. The firm has a market capitalization of $78.20 billion, a P/E ratio of 45.48, a P/E/G ratio of 2.10 and a beta of 0.46.

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

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.