US Bancorp DE Sells 8,735 Shares of Monster Beverage Co. (NASDAQ:MNST)

US Bancorp DE lowered its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 171,842 shares of the company’s stock after selling 8,735 shares during the quarter. US Bancorp DE’s holdings in Monster Beverage were worth $10,187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. raised its stake in Monster Beverage by 5.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,659 shares of the company’s stock valued at $211,000 after purchasing an additional 196 shares in the last quarter. PFG Investments LLC raised its stake in shares of Monster Beverage by 2.6% in the fourth quarter. PFG Investments LLC now owns 7,761 shares of the company’s stock valued at $447,000 after acquiring an additional 199 shares during the period. CENTRAL TRUST Co raised its stake in shares of Monster Beverage by 3.7% in the fourth quarter. CENTRAL TRUST Co now owns 5,908 shares of the company’s stock valued at $340,000 after acquiring an additional 213 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in shares of Monster Beverage by 1.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock valued at $789,000 after acquiring an additional 226 shares during the period. Finally, Savant Capital LLC raised its stake in shares of Monster Beverage by 4.6% in the fourth quarter. Savant Capital LLC now owns 5,200 shares of the company’s stock valued at $300,000 after acquiring an additional 227 shares during the period. Institutional investors own 72.36% of the company’s stock.

Insider Activity at Monster Beverage

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the completion of the transaction, the director now directly owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The disclosure for this sale can be found here. Insiders sold 307,221 shares of company stock valued at $16,070,374 in the last three months. 7.80% of the stock is owned by insiders.

Monster Beverage Price Performance

Shares of MNST stock traded up $0.63 during mid-day trading on Tuesday, hitting $50.49. 4,105,933 shares of the stock traded hands, compared to its average volume of 7,456,161. The stock has a market cap of $52.60 billion, a P/E ratio of 31.36, a P/E/G ratio of 2.06 and a beta of 0.76. The stock’s fifty day moving average is $51.37 and its two-hundred day moving average is $54.81. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, equities analysts forecast that Monster Beverage Co. will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MNST. UBS Group reduced their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of Monster Beverage in a research note on Monday, July 1st. Stifel Nicolaus cut their price target on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, June 17th. Wells Fargo & Company cut their price target on shares of Monster Beverage from $65.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, June 25th. Finally, Piper Sandler upped their price target on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Hold” and an average price target of $59.48.

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.