Private Trust Co. NA Sells 199 Shares of Monster Beverage Corporation $MNST

Private Trust Co. NA cut its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 8.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,238 shares of the company’s stock after selling 199 shares during the period. Private Trust Co. NA’s holdings in Monster Beverage were worth $140,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Monster Beverage by 1.8% in the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after purchasing an additional 1,151,175 shares during the period. Invesco Ltd. increased its stake in shares of Monster Beverage by 6.6% in the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after purchasing an additional 563,353 shares during the period. Ninety One UK Ltd increased its stake in shares of Monster Beverage by 4.9% in the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock worth $560,282,000 after purchasing an additional 418,918 shares during the period. Nuveen LLC bought a new position in shares of Monster Beverage in the first quarter worth about $497,157,000. Finally, Northern Trust Corp increased its stake in Monster Beverage by 1.0% during the first quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock valued at $434,901,000 after acquiring an additional 73,737 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company set a $73.00 price target on Monster Beverage and gave the company an “overweight” rating in a research note on Friday, August 8th. Bank of America boosted their price target on Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on Monster Beverage from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Roth Capital restated a “neutral” rating and set a $60.00 price target (up from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Finally, Citigroup restated a “buy” rating and set a $79.00 price target (up from $76.00) on shares of Monster Beverage in a research note on Thursday, October 9th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.05.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director directly owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.80% of the stock is currently owned by company insiders.

Monster Beverage Trading Down 1.2%

NASDAQ MNST opened at $68.90 on Wednesday. The stock’s 50 day moving average is $65.34 and its two-hundred day moving average is $62.49. The company has a market capitalization of $67.28 billion, a price-to-earnings ratio of 42.80, a PEG ratio of 2.43 and a beta of 0.54. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $70.72.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.Monster Beverage’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. On average, analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.