MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Stake in Monster Beverage Corporation $MNST

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 80.1% in the second quarter, HoldingsChannel reports. The fund owned 7,399 shares of the company’s stock after selling 29,754 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Monster Beverage were worth $463,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Pinnacle Associates Ltd. increased its stake in Monster Beverage by 4.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock valued at $286,000 after purchasing an additional 189 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after buying an additional 196 shares during the last quarter. Conning Inc. raised its holdings in Monster Beverage by 3.9% in the first quarter. Conning Inc. now owns 5,853 shares of the company’s stock worth $343,000 after buying an additional 219 shares during the last quarter. Eastern Bank raised its holdings in Monster Beverage by 3.0% in the first quarter. Eastern Bank now owns 7,527 shares of the company’s stock worth $440,000 after buying an additional 221 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in Monster Beverage by 21.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company’s stock worth $77,000 after buying an additional 230 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 0.5%

Shares of MNST stock opened at $64.59 on Friday. The company has a 50 day moving average price of $62.59 and a 200-day moving average price of $61.09. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $67.13. The firm has a market capitalization of $63.07 billion, a PE ratio of 40.12, a P/E/G ratio of 2.26 and a beta of 0.54.

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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MNST. Rothschild & Co Redburn cut shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a report on Wednesday, July 9th. Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Morgan Stanley lifted their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Roth Capital reiterated a “neutral” rating and issued a $60.00 price target (up from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Finally, Bank of America lifted their price target on shares of Monster Beverage from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.19.

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.