Cullen Frost Bankers Inc. Sells 6,576 Shares of Monster Beverage Corporation $MNST

Key Points

• Cullen Frost Bankers Inc. sold 6,576 shares of Monster Beverage Corporation, reducing its holdings by 4.0% to 159,087 shares valued at approximately $9.97 million.
• Insider trading activity includes Director Mark Vidergauz selling 10,000 shares for $637,300, marking a 16.34% decrease in his position.
• Monster Beverage reported $0.52 earnings per share for the last quarter, exceeding analysts’ estimates and showing an 11.1% increase in revenue year-over-year.

Cullen Frost Bankers Inc. decreased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,087 shares of the company's stock after selling 6,576 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Monster Beverage were worth $9,965,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC boosted its position in shares of Monster Beverage by 1.0% during the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company's stock valued at $1,064,000 after buying an additional 174 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Monster Beverage by 4.0% during the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock valued at $286,000 after buying an additional 189 shares during the last quarter. Accretive Wealth Partners LLC boosted its position in shares of Monster Beverage by 1.0% during the second quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company's stock valued at $1,263,000 after buying an additional 190 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after purchasing an additional 196 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Monster Beverage by 6.7% in the second quarter. Blue Trust Inc. now owns 3,293 shares of the company's stock worth $206,000 after purchasing an additional 207 shares during the last quarter. Institutional investors own 72.36% of the company's stock.

Insider Activity

In related news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.30% of the company's stock.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $69.72 on Thursday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $70.72. The firm has a market cap of $68.08 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 2.40 and a beta of 0.54. The business's fifty day moving average is $65.45 and its 200 day moving average is $62.54.

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

Analysts Set New Price Targets

Several research analysts have weighed in on MNST shares. Rothschild & Co Redburn cut Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price objective on the stock. in a research report on Wednesday, July 9th. Redburn Atlantic cut Monster Beverage from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. Weiss Ratings reissued a "buy (b-)" rating on shares of Monster Beverage in a research report on Wednesday, October 8th. Morgan Stanley boosted their price objective on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada boosted their price objective on Monster Beverage from $68.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. Thirteen research 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's stock. According to data from MarketBeat.com, Monster Beverage currently has an average rating of "Hold" and a consensus price target of $66.05.

Monster Beverage 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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