M&T Bank Corp Sells 280 Shares of Monster Beverage Co. (NASDAQ:MNST)

M&T Bank Corp cut its stake in Monster Beverage Co. (NASDAQ:MNST) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,593 shares of the company’s stock after selling 280 shares during the period. M&T Bank Corp’s holdings in Monster Beverage were worth $3,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MNST. Sustainable Insight Capital Management LLC bought a new stake in shares of Monster Beverage during the fourth quarter worth approximately $1,214,000. Van ECK Associates Corp raised its stake in shares of Monster Beverage by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock worth $8,101,000 after buying an additional 7,780 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Monster Beverage by 6.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock worth $13,124,000 after buying an additional 15,611 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Monster Beverage by 6.7% during the third quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after buying an additional 9,496 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Monster Beverage during the fourth quarter worth approximately $7,090,000. 72.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MNST shares. Argus boosted their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Needham & Company LLC reissued a “hold” rating on shares of Monster Beverage in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Monster Beverage from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, February 28th. BNP Paribas decreased their price objective on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Monster Beverage from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Monster Beverage has an average rating of “Hold” and an average price target of $55.83.

Monster Beverage Stock Down 1.1 %

Monster Beverage stock opened at $55.07 on Friday. The stock has a market capitalization of $53.59 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $50.55 and a 200-day moving average of $51.48.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. On average, equities research analysts anticipate that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Insider Activity at Monster Beverage

In related news, insider Emelie Tirre sold 91,316 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 76,201 shares of the company’s stock, valued at approximately $4,220,011.38. This trade represents a 54.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Kelly sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $52.65, for a total transaction of $526,500.00. Following the completion of the transaction, the chief financial officer now directly owns 74,924 shares of the company’s stock, valued at approximately $3,944,748.60. This trade represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is owned by insiders.

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.