Monster Beverage Corporation $MNST Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in Monster Beverage by 1.3%, selling 6,981 shares to own 511,032 shares valued at approximately $32 million.
• Several institutional investors, including Twin Capital Management and Cambridge Investment Research Advisors, notably increased their positions in Monster Beverage during the first quarter, showcasing growing institutional interest.
• Monster Beverage reported quarterly earnings per share (EPS) of $0.52, exceeding estimates, with revenue increasing by 11.1% year-over-year, prompting various analysts to adjust their price ratings on the stock.

Truist Financial Corp lessened its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,032 shares of the company's stock after selling 6,981 shares during the period. Truist Financial Corp owned about 0.05% of Monster Beverage worth $32,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MNST. Twin Capital Management Inc. raised its holdings in Monster Beverage by 11.6% in the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company's stock valued at $305,000 after acquiring an additional 540 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Monster Beverage by 2.4% in the first quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company's stock valued at $18,475,000 after purchasing an additional 7,465 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Monster Beverage by 76.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company's stock valued at $3,915,000 after purchasing an additional 28,932 shares during the last quarter. Principal Financial Group Inc. lifted its position in Monster Beverage by 0.9% during the first quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company's stock worth $75,455,000 after buying an additional 11,443 shares during the period. Finally, OMNI 360 Wealth Inc. purchased a new position in Monster Beverage during the second quarter worth about $365,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Activity at Monster Beverage

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 value of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.30% of the company's stock.

Monster Beverage Trading Up 0.2%

NASDAQ MNST opened at $67.58 on Friday. The stock has a market cap of $65.99 billion, a P/E ratio of 41.98, a PEG ratio of 2.35 and a beta of 0.54. The company's fifty day simple moving average is $63.34 and its 200-day simple moving average is $61.50. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $67.89.

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

Analysts Set New Price Targets

A number of research firms have recently commented on MNST. Roth Capital reaffirmed a "neutral" rating and set a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Citigroup boosted their target price on shares of Monster Beverage from $74.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Wall Street Zen downgraded shares of Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Royal Bank Of Canada set a $68.00 price objective on shares of Monster Beverage and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and cut their target price for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Monster Beverage has a consensus rating of "Hold" and an average target price of $65.19.

About Monster Beverage

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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