Chevy Chase Trust Holdings LLC Has $28.24 Million Stock Holdings in Monster Beverage Corporation $MNST

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Monster Beverage Corporation by 1.1% during Q2, owning 450,840 shares valued at approximately $28.24 million as of the end of the quarter.
• Analysts have varying opinions on MNST stock, with Bank of America and Royal Bank of Canada upgrading their price targets to as high as $75.00 and giving it a "buy" rating.
• Monster Beverage reported quarterly earnings of $0.52 per share, exceeding estimates and revealing an 11.1% year-over-year revenue increase to $2.11 billion.

Chevy Chase Trust Holdings LLC lifted its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,840 shares of the company's stock after acquiring an additional 5,118 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Monster Beverage were worth $28,241,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Stratos Wealth Partners LTD. raised its position in shares of Monster Beverage by 113.0% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,643 shares of the company's stock valued at $855,000 after acquiring an additional 7,238 shares during the period. Angeles Wealth Management LLC raised its position in shares of Monster Beverage by 26.1% in the 2nd quarter. Angeles Wealth Management LLC now owns 4,671 shares of the company's stock valued at $293,000 after acquiring an additional 967 shares during the period. Sage Private Wealth Group LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $401,000. Nordea Investment Management AB raised its position in shares of Monster Beverage by 1.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,191,598 shares of the company's stock valued at $136,054,000 after acquiring an additional 22,960 shares during the period. Finally, Empirical Asset Management LLC raised its position in shares of Monster Beverage by 34.5% in the 2nd quarter. Empirical Asset Management LLC now owns 14,306 shares of the company's stock valued at $896,000 after acquiring an additional 3,672 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on MNST shares. Roth Capital reiterated a "neutral" rating and issued a $60.00 price target (up from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Bank of America raised their target price on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Royal Bank Of Canada raised their target price on shares of Monster Beverage from $68.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. Finally, Redburn Atlantic downgraded shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $63.00 to $60.00 in a report on Wednesday, July 9th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Monster Beverage presently has an average rating of "Hold" and an average price target of $66.05.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares of the company's stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Stock Up 0.1%

Shares of MNST opened at $70.22 on Friday. The stock has a market capitalization of $68.56 billion, a P/E ratio of 43.61, a P/E/G ratio of 2.44 and a beta of 0.54. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $70.65. The company has a 50 day moving average of $65.12 and a 200-day moving average of $62.32.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. On average, sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share 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.

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