Park National Corp OH Has $940,000 Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Park National Corp OH cut its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 80.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,059 shares of the company's stock after selling 67,874 shares during the quarter. Park National Corp OH's holdings in Monster Beverage were worth $940,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Kera Capital Partners Inc. acquired a new position in shares of Monster Beverage during the 1st quarter worth $250,000. Wealth Enhancement Advisory Services LLC increased its position in Monster Beverage by 11.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,346 shares of the company's stock worth $1,490,000 after buying an additional 3,004 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in Monster Beverage during the fourth quarter worth $12,383,000. Dogwood Wealth Management LLC increased its position in Monster Beverage by 1.8% during the fourth quarter. Dogwood Wealth Management LLC now owns 13,323 shares of the company's stock worth $700,000 after buying an additional 233 shares during the last quarter. Finally, Siemens Fonds Invest GmbH increased its holdings in shares of Monster Beverage by 50.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 43,340 shares of the company's stock valued at $2,278,000 after acquiring an additional 14,510 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Monster Beverage

In related news, insider Emelie Tirre sold 91,316 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total value of $5,057,080.08. Following the sale, the insider now owns 76,201 shares of the company's stock, valued at $4,220,011.38. The trade was a 54.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark J. Hall sold 48,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $54.89, for a total value of $2,634,720.00. Following the completion of the sale, the director now owns 296,846 shares in the company, valued at approximately $16,293,876.94. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 217,112 shares of company stock valued at $12,033,838 in the last 90 days. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MNST shares. CICC Research raised Monster Beverage from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $56.00 to $65.00 in a research note on Monday, May 12th. Bank of America lifted their price target on shares of Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Citigroup lifted their price target on shares of Monster Beverage from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, April 14th. The Goldman Sachs Group set a $67.00 price target on shares of Monster Beverage and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Monster Beverage in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Monster Beverage has an average rating of "Moderate Buy" and a consensus price target of $60.81.

Monster Beverage Stock Performance

MNST traded up $0.03 on Friday, hitting $63.67. 13,500,761 shares of the stock traded hands, compared to its average volume of 6,799,253. The firm has a market capitalization of $62.09 billion, a PE ratio of 40.81, a P/E/G ratio of 2.28 and a beta of 0.63. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $64.45. The business has a fifty day moving average price of $59.90 and a two-hundred day moving average price of $54.88.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.97 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. Monster Beverage's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. On average, research analysts predict that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

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.