Commerce Bank cut its holdings in Monster Beverage Co. (NASDAQ:MNST) by 55.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,361 shares of the company’s stock after selling 17,578 shares during the period. Commerce Bank’s holdings in Monster Beverage were worth $1,152,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Valeo Financial Advisors LLC boosted its stake in Monster Beverage by 12.2% during the second quarter. Valeo Financial Advisors LLC now owns 1,308 shares of the company’s stock worth $91,000 after buying an additional 142 shares during the period. CSat Investment Advisory L.P. grew its holdings in shares of Monster Beverage by 6.8% in the second quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock valued at $171,000 after purchasing an additional 157 shares in the last quarter. Signaturefd LLC lifted its holdings in Monster Beverage by 1.9% during the 3rd quarter. Signaturefd LLC now owns 9,635 shares of the company’s stock worth $773,000 after buying an additional 179 shares in the last quarter. Keybank National Association OH raised its stake in shares of Monster Beverage by 3.1% in the second quarter. Keybank National Association OH now owns 7,362 shares of the company’s stock valued at $510,000 after acquiring an additional 220 shares in the last quarter. Finally, Parsec Financial Management Inc. grew its position in shares of Monster Beverage by 5.8% during the second quarter. Parsec Financial Management Inc. now owns 4,495 shares of the company’s stock worth $312,000 after buying an additional 246 shares in the last quarter. Institutional investors own 63.92% of the company’s stock.
Several brokerages have commented on MNST. Guggenheim increased their price target on shares of Monster Beverage from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Stifel Nicolaus lifted their price target on Monster Beverage from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Monster Beverage from a “buy” rating to a “hold” rating and set a $83.00 target price on the stock. in a report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Monster Beverage from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Finally, BidaskClub upgraded Monster Beverage from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $84.14.
NASDAQ:MNST opened at $84.22 on Thursday. The firm has a 50-day moving average of $80.82 and a two-hundred day moving average of $76.09. The stock has a market cap of $44.46 billion, a P/E ratio of 37.77, a PEG ratio of 3.05 and a beta of 1.11. Monster Beverage Co. has a 1-year low of $50.06 and a 1-year high of $88.40.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Monster Beverage had a return on equity of 27.95% and a net margin of 26.57%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. Monster Beverage’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts predict that Monster Beverage Co. will post 2.26 earnings per share for the current year.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, non-carbonated energy teas, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to bottling and canning operations.
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