Montrusco Bolton Investments Inc. Has $216.03 Million Stock Holdings in Monster Beverage Corporation $MNST

Montrusco Bolton Investments Inc. cut its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 34.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,502,060 shares of the company’s stock after selling 1,864,066 shares during the period. Monster Beverage makes up about 2.4% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 17th biggest position. Montrusco Bolton Investments Inc. owned 0.36% of Monster Beverage worth $216,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Monster Beverage during the first quarter worth $29,000. Webster Bank N. A. acquired a new stake in shares of Monster Beverage during the second quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of 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 purchasing an additional 196 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Monster Beverage during the first quarter worth $43,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Monster Beverage during the second quarter worth $55,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Redburn Atlantic downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating and lowered their price target for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. Piper Sandler upgraded Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Morgan Stanley lifted their price target on Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on Monster Beverage from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Monster Beverage has a consensus rating of “Hold” and a consensus target price of $66.05.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.30% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $69.62 on Monday. The business’s 50-day moving average price is $64.31 and its two-hundred day moving average price is $62.01. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $70.06. The company has a market capitalization of $67.98 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company posted $0.41 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

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.