Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Grove Bank & Trust

Grove Bank & Trust trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 20.5% in the third quarter, HoldingsChannel.com reports. The firm owned 3,196 shares of the company’s stock after selling 822 shares during the quarter. Grove Bank & Trust’s holdings in Monster Beverage were worth $167,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd raised its stake in shares of Monster Beverage by 2.3% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock worth $1,192,000 after buying an additional 532 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Monster Beverage by 156.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 114,100 shares of the company’s stock valued at $6,764,000 after acquiring an additional 69,674 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of Monster Beverage by 128.1% during the 1st quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after purchasing an additional 11,528 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Monster Beverage in the 1st quarter worth approximately $1,063,000. Finally, Swedbank AB raised its holdings in shares of Monster Beverage by 23.1% in the 2nd quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after purchasing an additional 22,823 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Trading Up 0.7 %

NASDAQ MNST opened at $51.68 on Tuesday. The company has a market capitalization of $53.84 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $49.25 and its 200-day simple moving average is $51.22.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. As a group, sell-side analysts anticipate that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MNST shares. UBS Group lifted their price target on shares of Monster Beverage from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Bank of America decreased their target price on Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company reduced their target price on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. BMO Capital Markets dropped their price target on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI cut their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.84.

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.