Bank of Montreal Can Decreases Position in Monster Beverage Co. (NASDAQ:MNST)

Bank of Montreal Can reduced its position in shares of Monster Beverage Co. (NASDAQ:MNSTGet Rating) by 37.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 447,403 shares of the company’s stock after selling 263,843 shares during the period. Bank of Montreal Can’s holdings in Monster Beverage were worth $42,686,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Prudential PLC increased its stake in Monster Beverage by 13.1% in the fourth quarter. Prudential PLC now owns 49,784 shares of the company’s stock valued at $4,781,000 after purchasing an additional 5,784 shares during the period. Cumberland Partners Ltd increased its stake in Monster Beverage by 131.3% in the fourth quarter. Cumberland Partners Ltd now owns 11,891 shares of the company’s stock valued at $1,142,000 after purchasing an additional 6,750 shares during the period. Jarislowsky Fraser Ltd increased its stake in shares of Monster Beverage by 10.9% during the fourth quarter. Jarislowsky Fraser Ltd now owns 714,450 shares of the company’s stock worth $68,615,000 after acquiring an additional 70,082 shares during the period. Rhumbline Advisers increased its stake in shares of Monster Beverage by 2.2% during the fourth quarter. Rhumbline Advisers now owns 659,298 shares of the company’s stock worth $63,319,000 after acquiring an additional 13,893 shares during the period. Finally, Peloton Wealth Strategists increased its stake in shares of Monster Beverage by 38.1% during the fourth quarter. Peloton Wealth Strategists now owns 12,185 shares of the company’s stock worth $1,170,000 after acquiring an additional 3,360 shares during the period. 63.44% of the stock is owned by institutional investors and hedge funds.

In related news, insider Emelie Tirre sold 40,729 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $88.06, for a total transaction of $3,586,595.74. Following the completion of the transaction, the insider now owns 19,526 shares of the company’s stock, valued at $1,719,459.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.40% of the company’s stock.

A number of research analysts have recently issued reports on MNST shares. StockNews.com started coverage on shares of Monster Beverage in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Cowen dropped their price target on shares of Monster Beverage from $92.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, February 25th. BMO Capital Markets dropped their price target on shares of Monster Beverage from $92.00 to $90.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 6th. Guggenheim decreased their price objective on shares of Monster Beverage from $109.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Finally, Credit Suisse Group decreased their price objective on shares of Monster Beverage from $119.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 18th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of “Buy” and a consensus price target of $99.46.

Shares of MNST opened at $87.63 on Friday. The company has a market capitalization of $46.41 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 2.06 and a beta of 1.01. The company’s 50 day simple moving average is $83.27 and its 200 day simple moving average is $86.01. Monster Beverage Co. has a 1 year low of $71.78 and a 1 year high of $99.89.

Monster Beverage (NASDAQ:MNSTGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.06). Monster Beverage had a return on equity of 21.21% and a net margin of 23.32%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities research analysts expect that Monster Beverage Co. will post 2.68 earnings per share for the current fiscal year.

Monster Beverage Profile (Get Rating)

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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

Further Reading

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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