Zions Bancorporation N.A. Decreases Stake in Monster Beverage Co. (NASDAQ:MNST)

Zions Bancorporation N.A. trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,602 shares of the company’s stock after selling 2,648 shares during the quarter. Zions Bancorporation N.A.’s holdings in Monster Beverage were worth $2,927,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Monster Beverage by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock valued at $3,837,867,000 after acquiring an additional 1,059,042 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Monster Beverage by 0.3% during the first quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock worth $691,182,000 after purchasing an additional 37,391 shares during the last quarter. Janus Henderson Group PLC grew its stake in Monster Beverage by 4.1% in the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock worth $664,469,000 after purchasing an additional 440,962 shares in the last quarter. Capital Research Global Investors increased its holdings in Monster Beverage by 40.6% in the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after buying an additional 3,026,657 shares during the last quarter. Finally, Norges Bank acquired a new stake in Monster Beverage during the fourth quarter valued at approximately $517,035,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of research analyst reports. Piper Sandler lowered their price target on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, August 8th. BNP Paribas started coverage on shares of Monster Beverage in a research note on Monday, June 24th. They set an “underperform” rating and a $48.00 price objective on the stock. Citigroup cut their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, UBS Group dropped their price target on Monster Beverage from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Two equities 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Stock Performance

MNST opened at $49.91 on Friday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a market capitalization of $48.89 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. The business has a 50 day moving average price of $48.97 and a two-hundred day moving average price of $52.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. Research analysts predict that Monster Beverage Co. will post 1.66 EPS for the current fiscal 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.