Truist Financial Corp Decreases Position in Monster Beverage Co. (NASDAQ:MNST)

Truist Financial Corp trimmed its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 706,986 shares of the company’s stock after selling 49,758 shares during the period. Truist Financial Corp owned approximately 0.07% of Monster Beverage worth $40,729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MNST. Peoples Bank KS bought a new stake in Monster Beverage during the third quarter valued at approximately $26,000. Headinvest LLC bought a new stake in Monster Beverage during the third quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Monster Beverage during the third quarter valued at approximately $31,000. Catalyst Capital Advisors LLC grew its position in Monster Beverage by 34.6% during the third quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock valued at $41,000 after buying an additional 199 shares during the period. Finally, DT Investment Partners LLC bought a new stake in Monster Beverage during the third quarter valued at approximately $53,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MNST has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of Monster Beverage from $57.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, January 17th. HSBC dropped their price target on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Morgan Stanley upped their price target on shares of Monster Beverage from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered shares of Monster Beverage from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $66.00 to $59.00 in a research report on Thursday. Finally, Royal Bank of Canada upped their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.79.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the completion of the sale, the director now owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.40% of the stock is owned by company insiders.

Monster Beverage Stock Up 0.4 %

MNST stock opened at $53.37 on Monday. Monster Beverage Co. has a 52 week low of $47.13 and a 52 week high of $61.22. The company has a fifty day simple moving average of $56.97 and a two-hundred day simple moving average of $55.68. The firm has a market capitalization of $55.54 billion, a P/E ratio of 34.43, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business earned $0.28 earnings per share. Monster Beverage’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, analysts anticipate that Monster Beverage Co. will post 1.81 EPS for the current year.

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.