TD Asset Management Inc Has $233.31 Million Holdings in Monster Beverage Corporation $MNST

TD Asset Management Inc lessened its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,724,610 shares of the company’s stock after selling 365,929 shares during the quarter. TD Asset Management Inc’s holdings in Monster Beverage were worth $233,310,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MNST. Wayfinding Financial LLC acquired a new position in Monster Beverage during the first quarter worth approximately $29,000. Webster Bank N. A. acquired a new position in Monster Beverage during the second quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Monster Beverage by 37.1% during 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. Banque Cantonale Vaudoise acquired a new position in Monster Beverage during the first quarter worth approximately $43,000. Finally, Ameritas Advisory Services LLC acquired a new position in Monster Beverage during the second quarter worth approximately $55,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Down 3.5%

Shares of MNST stock opened at $67.15 on Tuesday. The stock has a market cap of $65.57 billion, a P/E ratio of 41.71, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. The stock has a 50 day simple moving average of $64.45 and a 200 day simple moving average of $62.07. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.06.

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 the consensus estimate of $0.48 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. Analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on MNST shares. Redburn Atlantic downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating and lowered their price target for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. Rothschild & Co Redburn cut Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Wednesday, July 9th. Wall Street Zen cut Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Roth Capital restated a “neutral” rating and set a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Finally, Bank of America boosted their price objective on Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Thirteen 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $66.05.

Insider Activity

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 stock was sold at an average price of $63.73, for a total value 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 is accessible through this link. Company insiders own 7.80% of the company’s stock.

About Monster Beverage

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.