GRIMES & Co WEALTH MANAGEMENT LLC Sells 18,844 Shares of Monster Beverage Corporation $MNST

GRIMES & Co WEALTH MANAGEMENT LLC trimmed its stake in Monster Beverage Corporation (NASDAQ:MNST) by 74.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,505 shares of the company’s stock after selling 18,844 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Monster Beverage were worth $271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Johnson Financial Group Inc. bought a new position in Monster Beverage in the second quarter worth about $27,000. Jones Financial Companies Lllp bought a new stake in Monster Beverage during the 2nd quarter valued at approximately $28,000. Trust Co. of Vermont purchased a new position in shares of Monster Beverage during the 2nd quarter worth approximately $30,000. NBH Bank purchased a new position in shares of Monster Beverage during the 2nd quarter worth approximately $32,000. Finally, Clearstead Trust LLC purchased a new position in shares of Monster Beverage during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 3.3%

Shares of NASDAQ:MNST opened at $48.75 on Thursday. The stock has a market capitalization of $95.50 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 2.97 and a beta of 0.51. The stock has a fifty day simple moving average of $44.73 and a two-hundred day simple moving average of $43.23. Monster Beverage Corporation has a 12-month low of $32.94 and a 12-month high of $50.17.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm posted $0.26 EPS. Monster Beverage’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that Monster Beverage Corporation will post 1.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Monster Beverage from $106.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Jefferies Financial Group dropped their price target on Monster Beverage from $108.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $50.00 price target (up from $48.00) on shares of Monster Beverage in a research note on Monday, October 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a report on Monday, August 10th. Finally, Stifel Nicolaus set a $52.00 price objective on Monster Beverage in a research report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $71.86.

Monster Beverage Company Profile

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.