Park National Corp OH Buys 87,328 Shares of Monster Beverage Co. (NASDAQ:MNST)

Park National Corp OH increased its stake in Monster Beverage Co. (NASDAQ:MNST) by 38.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 316,215 shares of the company’s stock after buying an additional 87,328 shares during the period. Park National Corp OH’s holdings in Monster Beverage were worth $15,795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of Monster Beverage by 59.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company’s stock valued at $7,609,000 after acquiring an additional 49,495 shares in the last quarter. Alaethes Wealth LLC purchased a new stake in Monster Beverage in the fourth quarter worth about $1,528,000. Louisiana State Employees Retirement System bought a new position in Monster Beverage during the 4th quarter worth about $7,340,000. Norges Bank purchased a new position in Monster Beverage during the 4th quarter valued at about $517,035,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Monster Beverage by 9.6% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 10,268 shares of the company’s stock valued at $590,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark J. Hall sold 250,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the transaction, the director now owns 532,754 shares in the company, valued at approximately $27,820,413.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the transaction, the chief executive officer now owns 1,875,558 shares in the company, valued at approximately $99,404,574. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of Monster Beverage stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $52.22, for a total value of $13,055,000.00. Following the completion of the sale, the director now directly owns 532,754 shares in the company, valued at $27,820,413.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,221 shares of company stock worth $16,070,374. 7.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MNST has been the subject of a number of analyst reports. Stifel Nicolaus lowered their target price on Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a report on Monday, June 17th. TD Cowen decreased their price objective on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Truist Financial cut their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday. Citigroup decreased their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Evercore ISI decreased their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Trading Down 0.4 %

Monster Beverage stock traded down $0.17 during mid-day trading on Monday, hitting $45.89. The company had a trading volume of 7,643,893 shares, compared to its average volume of 7,447,392. The company has a market capitalization of $47.80 billion, a price-to-earnings ratio of 28.97, a P/E/G ratio of 2.09 and a beta of 0.76. The company’s fifty day moving average is $50.14 and its 200-day moving average is $53.82. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the company posted $0.39 EPS. The company’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Monster Beverage Co. will post 1.75 EPS 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.