NBT Bank N A NY Sells 1,095 Shares of Monster Beverage Corporation (NASDAQ:MNST)

NBT Bank N A NY lessened its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 22.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,785 shares of the company’s stock after selling 1,095 shares during the quarter. NBT Bank N A NY’s holdings in Monster Beverage were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Monster Beverage in the 4th quarter worth $442,642,000. CIBC Private Wealth Group LLC raised its holdings in Monster Beverage by 659.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company’s stock worth $251,445,000 after purchasing an additional 4,231,063 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Monster Beverage by 5,095.6% in the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company’s stock worth $179,267,000 after buying an additional 3,004,391 shares in the last quarter. Champlain Investment Partners LLC bought a new position in Monster Beverage in the fourth quarter worth about $121,575,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Monster Beverage in the fourth quarter worth about $110,942,000. Institutional investors own 72.36% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the sale, the chief financial officer now directly owns 69,273 shares in the company, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Emelie Tirre sold 8,796 shares of Monster Beverage stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the completion of the sale, the insider now owns 89,501 shares of the company’s stock, valued at $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MNST shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. UBS Group increased their target price on Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Stifel Nicolaus initiated coverage on Monster Beverage in a report on Thursday, June 12th. They issued a “buy” rating and a $72.00 price objective for the company. Citigroup increased their price objective on Monster Beverage from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Morgan Stanley increased their price objective on Monster Beverage from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.05.

Monster Beverage Price Performance

Shares of MNST opened at $63.19 on Thursday. The company has a market capitalization of $61.63 billion, a P/E ratio of 41.57, a price-to-earnings-growth ratio of 2.22 and a beta of 0.60. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $61.32 and a 200 day moving average of $55.67. Monster Beverage Corporation has a twelve month low of $43.32 and a twelve month high of $64.45.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. As a group, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Monster Beverage Company 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.