Bank of Montreal Can Has $36.15 Million Holdings in Monster Beverage Corporation $MNST

Bank of Montreal Can trimmed its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 20.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 577,168 shares of the company’s stock after selling 150,419 shares during the period. Bank of Montreal Can’s holdings in Monster Beverage were worth $36,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Sigma Planning Corp raised its holdings in Monster Beverage by 100.9% in the 2nd quarter. Sigma Planning Corp now owns 10,578 shares of the company’s stock valued at $663,000 after acquiring an additional 5,313 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Monster Beverage by 0.6% in the second quarter. State of Michigan Retirement System now owns 199,116 shares of the company’s stock worth $12,473,000 after purchasing an additional 1,100 shares during the period. iA Global Asset Management Inc. raised its stake in Monster Beverage by 26.0% in the second quarter. iA Global Asset Management Inc. now owns 157,381 shares of the company’s stock valued at $9,858,000 after purchasing an additional 32,513 shares in the last quarter. TIAA Trust National Association bought a new stake in Monster Beverage during the second quarter worth about $258,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Monster Beverage during the second quarter worth about $486,000. 72.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director directly owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $66.31 on Friday. The company’s 50 day moving average price is $66.44 and its two-hundred day moving average price is $63.36. The firm has a market capitalization of $64.75 billion, a P/E ratio of 41.19, a P/E/G ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.72.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on MNST. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 target price on shares of Monster Beverage in a report on Tuesday. UBS Group reissued a “neutral” rating on shares of Monster Beverage in a research note on Friday, October 31st. JPMorgan Chase & Co. upped their target price on Monster Beverage from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and raised their target price for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Finally, Wells Fargo & Company set a $73.00 price target on Monster Beverage and gave the stock an “overweight” rating in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.48.

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.