Truist Financial Corp Has $30.31 Million Position in Monster Beverage Corporation (NASDAQ:MNST)

Truist Financial Corp lowered its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,013 shares of the company's stock after selling 21,704 shares during the quarter. Truist Financial Corp owned approximately 0.05% of Monster Beverage worth $30,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in Monster Beverage during the 4th quarter worth $31,000. Coppell Advisory Solutions LLC grew its position in shares of Monster Beverage by 259.2% during the fourth quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock worth $36,000 after acquiring an additional 495 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Monster Beverage in the 4th quarter valued at about $36,000. CVA Family Office LLC boosted its stake in Monster Beverage by 28.6% during the 1st quarter. CVA Family Office LLC now owns 1,519 shares of the company's stock valued at $89,000 after purchasing an additional 338 shares during the period. Finally, Menard Financial Group LLC acquired a new position in Monster Beverage during the 4th quarter valued at about $101,000. Institutional investors own 72.36% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on Monster Beverage from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, June 13th. The Goldman Sachs Group boosted their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Morgan Stanley raised their target price on Monster Beverage from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Thursday, June 12th. Finally, Roth Capital boosted their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.05.

Monster Beverage Stock Down 2.0%

Shares of Monster Beverage stock traded down $1.26 on Tuesday, hitting $61.59. 5,912,134 shares of the company traded hands, compared to its average volume of 5,991,837. The company has a 50-day moving average price of $62.45 and a 200 day moving average price of $56.63. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45. The company has a market cap of $60.07 billion, a PE ratio of 40.52, a PEG ratio of 2.23 and a beta of 0.59.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The firm's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 earnings per share. Sell-side analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 8,796 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the transaction, the insider owned 89,501 shares in the company, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the sale, the chief financial officer owned 69,273 shares in the company, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.

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.