Appleton Partners Inc. MA Lowers Holdings in Monster Beverage Corporation $MNST

Appleton Partners Inc. MA cut its position in Monster Beverage Corporation (NASDAQ:MNST) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,265 shares of the company’s stock after selling 1,623 shares during the quarter. Appleton Partners Inc. MA’s holdings in Monster Beverage were worth $7,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Monster Beverage in the 1st quarter worth $29,000. Webster Bank N. A. bought a new position in shares of Monster Beverage in the 2nd quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Monster Beverage by 37.1% in the 1st 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. Banque Cantonale Vaudoise bought a new position in shares of Monster Beverage in the 1st quarter worth $43,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Monster Beverage in the 2nd quarter worth $55,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $67.17 on Monday. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $67.89. The stock has a market cap of $65.59 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.54. The firm has a 50-day moving average of $63.47 and a 200 day moving average of $61.64.

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

Analysts Set New Price Targets

Several research firms recently commented on MNST. JPMorgan Chase & Co. increased their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, August 8th. The Goldman Sachs Group increased their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the company a “buy” rating in a report on Friday, June 13th. Stifel Nicolaus began coverage on shares of Monster Beverage in a report on Thursday, June 12th. They set a “buy” rating and a $72.00 target price on the stock. Rothschild & Co Redburn lowered shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a report on Wednesday, July 9th. Finally, Bank of America increased their target price on shares of Monster Beverage from $66.00 to $72.00 and gave the company a “buy” rating in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.19.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. 7.80% of the stock is currently owned by company insiders.

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.