Eastern Bank Has $458,000 Position in Monster Beverage Corporation $MNST

Eastern Bank lowered its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,306 shares of the company’s stock after selling 221 shares during the quarter. Eastern Bank’s holdings in Monster Beverage were worth $458,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MNST. Vanguard Group Inc. lifted its stake in Monster Beverage by 1.8% during the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after purchasing an additional 1,151,175 shares during the last quarter. Invesco Ltd. lifted its stake in Monster Beverage by 6.6% during the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after purchasing an additional 563,353 shares during the last quarter. Ninety One UK Ltd lifted its stake in Monster Beverage by 4.9% during the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock worth $560,282,000 after purchasing an additional 418,918 shares during the last quarter. Nuveen LLC bought a new stake in Monster Beverage during the first quarter worth $497,157,000. Finally, Northern Trust Corp lifted its stake in Monster Beverage by 1.0% during the first quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock worth $434,901,000 after purchasing an additional 73,737 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on MNST shares. Piper Sandler upgraded Monster Beverage from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Citigroup restated a “buy” rating and set a $79.00 target price (up from $76.00) on shares of Monster Beverage in a research note on Thursday. Morgan Stanley upped their target price on Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Wells Fargo & Company set a $73.00 price target on Monster Beverage and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, Redburn Atlantic cut Monster Beverage from a “strong-buy” rating to a “hold” rating and dropped their price target for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $66.05.

Monster Beverage Stock Performance

Shares of MNST opened at $69.62 on Friday. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $70.06. The stock has a market capitalization of $67.98 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 2.42 and a beta of 0.54. The stock has a fifty day moving average of $64.31 and a 200-day moving average of $61.98.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.Monster Beverage’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. As a group, equities analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is currently owned by corporate insiders.

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.