TD Asset Management Inc Sells 365,929 Shares of Monster Beverage Corporation $MNST

Key Points

• TD Asset Management Inc reduced its stake in Monster Beverage Corporation by 8.9%, selling 365,929 shares and retaining a total of 3,724,610 shares valued at approximately $233 million.
• Monster Beverage reported an earnings per share (EPS) of $0.52 for the latest quarter, surpassing the consensus estimate and reflecting an 11.1% year-over-year revenue increase of $2.11 billion.
• Research firms have increased their target prices for Monster Beverage, with Morgan Stanley raising its target from $70 to $74 and thirteen analysts currently rating the stock as a Buy.

TD Asset Management Inc reduced its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,724,610 shares of the company's stock after selling 365,929 shares during the period. TD Asset Management Inc owned 0.38% of Monster Beverage worth $233,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC lifted its holdings in Monster Beverage by 1.0% during the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company's stock worth $1,064,000 after acquiring an additional 174 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in Monster Beverage by 4.0% during the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock worth $286,000 after acquiring an additional 189 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Monster Beverage by 37.1% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after acquiring an additional 196 shares in the last quarter. Blue Trust Inc. lifted its holdings in Monster Beverage by 6.7% during the second quarter. Blue Trust Inc. now owns 3,293 shares of the company's stock worth $206,000 after acquiring an additional 207 shares in the last quarter. Finally, Conning Inc. lifted its holdings in Monster Beverage by 3.9% during the first quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after acquiring an additional 219 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

MNST opened at $67.15 on Tuesday. The business's 50-day moving average price is $64.45 and its two-hundred day moving average price is $62.07. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.06. The company has a market capitalization of $65.57 billion, a price-to-earnings ratio of 41.71, a P/E/G ratio of 2.42 and a beta of 0.54.

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, beating the consensus estimate of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the business posted $0.41 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on MNST. JPMorgan Chase & Co. lifted their target price on Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Morgan Stanley lifted their target price on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Royal Bank Of Canada lifted their target price on Monster Beverage from $68.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday. Piper Sandler upgraded Monster Beverage from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Finally, Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and reduced their target price for the stock from $63.00 to $60.00 in a report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Monster Beverage has an average rating of "Hold" and an average target price of $66.05.

Insider Activity

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage 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 sale, the director owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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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