Banco Santander S.A. Lowers Stake in Monster Beverage Corporation $MNST

Banco Santander S.A. reduced its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 20.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,471 shares of the company’s stock after selling 47,986 shares during the period. Banco Santander S.A.’s holdings in Monster Beverage were worth $11,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MNST. GAMMA Investing LLC increased its stake in Monster Beverage by 2.2% during the 1st quarter. GAMMA Investing LLC now owns 21,433 shares of the company’s stock valued at $1,254,000 after purchasing an additional 460 shares in the last quarter. Spire Wealth Management increased its stake in Monster Beverage by 284.2% during the 1st quarter. Spire Wealth Management now owns 2,109 shares of the company’s stock valued at $123,000 after purchasing an additional 1,560 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Monster Beverage by 3,425.9% during the 1st quarter. Golden State Wealth Management LLC now owns 2,045 shares of the company’s stock valued at $120,000 after purchasing an additional 1,987 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Monster Beverage by 69.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 28,734 shares of the company’s stock valued at $1,682,000 after purchasing an additional 11,815 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Monster Beverage by 2.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,823,069 shares of the company’s stock valued at $106,686,000 after purchasing an additional 49,665 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Down 0.0%

Shares of MNST stock opened at $69.68 on Tuesday. The company has a 50 day moving average price of $65.78 and a 200-day moving average price of $62.90. The firm has a market capitalization of $68.04 billion, a PE ratio of 43.28, a P/E/G ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $70.72.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. Analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Monster Beverage from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday. Stifel Nicolaus raised their price objective on shares of Monster Beverage from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Friday. Bank of America lifted their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.43.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.30% of the company’s stock.

Monster Beverage Profile

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.