Bank of America Corp DE Sells 1,224,431 Shares of Monster Beverage Co. (NASDAQ:MNST)

Bank of America Corp DE reduced its holdings in shares of Monster Beverage Co. (NASDAQ:MNSTGet Rating) by 14.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 7,089,530 shares of the company’s stock after selling 1,224,431 shares during the period. Bank of America Corp DE’s holdings in Monster Beverage were worth $566,454,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Quent Capital LLC grew its stake in shares of Monster Beverage by 45.3% during the 1st quarter. Quent Capital LLC now owns 430 shares of the company’s stock worth $34,000 after acquiring an additional 134 shares in the last quarter. Regentatlantic Capital LLC grew its stake in shares of Monster Beverage by 1.8% in the first quarter. Regentatlantic Capital LLC now owns 7,644 shares of the company’s stock valued at $611,000 after buying an additional 137 shares in the last quarter. Newfound Research LLC grew its stake in shares of Monster Beverage by 9.3% in the first quarter. Newfound Research LLC now owns 1,781 shares of the company’s stock valued at $142,000 after buying an additional 152 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Monster Beverage by 1.6% in the first quarter. Cetera Investment Advisers now owns 10,286 shares of the company’s stock valued at $822,000 after buying an additional 161 shares in the last quarter. Finally, Commerce Bank grew its stake in shares of Monster Beverage by 1.0% in the fourth quarter. Commerce Bank now owns 16,869 shares of the company’s stock valued at $1,620,000 after buying an additional 162 shares in the last quarter. 65.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Thomas J. Kelly sold 16,032 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $92.52, for a total value of $1,483,280.64. Following the transaction, the chief financial officer now owns 19,433 shares in the company, valued at $1,797,941.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Thomas J. Kelly sold 16,032 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $92.52, for a total value of $1,483,280.64. Following the transaction, the chief financial officer now owns 19,433 shares in the company, valued at $1,797,941.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 16,996 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $93.92, for a total value of $1,596,264.32. Following the completion of the transaction, the chief financial officer now owns 25,777 shares in the company, valued at approximately $2,420,975.84. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Monster Beverage Stock Performance

MNST opened at $87.24 on Friday. Monster Beverage Co. has a fifty-two week low of $71.78 and a fifty-two week high of $99.81. The company has a market capitalization of $45.97 billion, a P/E ratio of 38.10, a P/E/G ratio of 3.45 and a beta of 0.95. The stock has a fifty day moving average of $92.54 and a 200-day moving average of $87.93.

Monster Beverage (NASDAQ:MNSTGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.19). Monster Beverage had a return on equity of 18.51% and a net margin of 20.40%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business posted $0.75 EPS. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts predict that Monster Beverage Co. will post 2.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Monster Beverage from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Monday, June 6th. UBS Group raised their target price on shares of Monster Beverage from $94.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Wells Fargo & Company raised their target price on shares of Monster Beverage from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Roth Capital assumed coverage on shares of Monster Beverage in a research note on Tuesday, July 5th. They issued a “neutral” rating and a $100.00 target price for the company. Finally, BMO Capital Markets raised their price target on Monster Beverage from $90.00 to $95.00 in a report on Wednesday, June 15th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $101.40.

Monster Beverage Profile

(Get Rating)

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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

See Also

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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