Bank of New York Mellon Corp Sells 172,327 Shares of Monster Beverage Co. (NASDAQ:MNST)

Bank of New York Mellon Corp decreased its position in Monster Beverage Co. (NASDAQ:MNST) by 3.1% in the second quarter, Holdings Channel reports. The firm owned 5,299,251 shares of the company’s stock after selling 172,327 shares during the period. Bank of New York Mellon Corp’s holdings in Monster Beverage were worth $264,698,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MNST. Edmond DE Rothschild Holding S.A. raised its position in shares of Monster Beverage by 9.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock worth $124,000 after acquiring an additional 189 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Monster Beverage by 5.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock valued at $256,000 after buying an additional 209 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Monster Beverage by 1.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock valued at $789,000 after buying an additional 226 shares in the last quarter. Savant Capital LLC grew its position in shares of Monster Beverage by 4.6% in the 4th quarter. Savant Capital LLC now owns 5,200 shares of the company’s stock worth $300,000 after buying an additional 227 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Monster Beverage by 2.8% during the 1st quarter. Private Trust Co. NA now owns 8,925 shares of the company’s stock worth $529,000 after acquiring an additional 239 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MNST has been the subject of several recent analyst reports. Piper Sandler lowered their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. UBS Group lowered their price objective on Monster Beverage from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Citigroup reduced their target price on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, BMO Capital Markets cut their price objective on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.85.

Monster Beverage Stock Up 1.4 %

Shares of MNST opened at $47.28 on Tuesday. The company has a market capitalization of $49.25 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 2.09 and a beta of 0.76. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The stock’s 50-day moving average price is $49.22 and its 200-day moving average price is $53.12.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. As a group, equities analysts anticipate that Monster Beverage Co. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the transaction, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at approximately $99,404,574. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,221 shares of company stock valued at $16,070,374. Corporate 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.