Comerica Bank Has $11.31 Million Stake in Monster Beverage Corporation $MNST

Key Points

• Comerica Bank has reduced its stake in Monster Beverage Corporation by 4.6%, currently holding 193,266 shares valued at approximately $11.31 million.
• In the 1st quarter, multiple institutional investors including Vanguard Group Inc. and Invesco Ltd. have increased their positions in Monster Beverage, indicating strong interest among major investors.
• Monster Beverage reported a $0.52 EPS for its latest quarter, surpassing the consensus estimate, with a year-over-year revenue increase of 11.1%, highlighting solid financial performance.

Comerica Bank trimmed its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,266 shares of the company's stock after selling 9,262 shares during the quarter. Comerica Bank's holdings in Monster Beverage were worth $11,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Monster Beverage by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company's stock valued at $3,791,313,000 after buying an additional 1,151,175 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Monster Beverage by 6.6% during the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company's stock valued at $535,712,000 after buying an additional 563,353 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Monster Beverage during the 1st quarter valued at about $497,157,000. Northern Trust Corp lifted its holdings in shares of Monster Beverage by 1.0% during the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company's stock valued at $434,901,000 after buying an additional 73,737 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Monster Beverage by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company's stock valued at $284,146,000 after buying an additional 493,914 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

MNST opened at $62.12 on Wednesday. The business has a 50 day moving average price of $61.65 and a 200 day moving average price of $59.37. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $66.75. The firm has a market cap of $60.66 billion, a P/E ratio of 38.58, a price-to-earnings-growth ratio of 2.04 and a beta of 0.55.

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

Wall Street Analyst Weigh In

MNST has been the subject of several research reports. CICC Research upgraded Monster Beverage from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $56.00 to $65.00 in a report on Monday, May 12th. Roth Capital restated a "neutral" rating and issued a $60.00 target price (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Bank of America boosted their target price on Monster Beverage from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, August 8th. The Goldman Sachs Group boosted their target price on Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, Royal Bank Of Canada set a $68.00 target price on Monster Beverage and gave the stock an "outperform" rating in a report on Friday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $65.10.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the transaction, the chief financial officer directly owned 69,273 shares of the company's stock, valued at $4,391,908.20. The trade was a 28.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.80% of the company's stock.

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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