Today: The First Mercantile Trust Co. lowers its Position in Monster Beverage Corp. (MNST)

The First Mercantile Trust Co. lowers its Position in Monster Beverage Corp. (MNST)

First Mercantile Trust Co. reduced its stake in shares of Monster Beverage Corp. (NASDAQ:MNST) by 46.8% during the second quarter, Holdings Channel reports. The fund owned 668 shares of the company’s stock after selling 588 shares during the period. First Mercantile Trust Co.’s holdings in Monster Beverage Corp. were worth $107,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. bought a new stake in Monster Beverage Corp. during the first quarter valued at $121,000. Meeder Asset Management Inc. boosted its stake in Monster Beverage Corp. by 1,798.1% in the first quarter. Meeder Asset Management Inc. now owns 987 shares of the company’s stock valued at $132,000 after buying an additional 935 shares during the last quarter. Thompson Davis & CO. Inc. bought a new stake in Monster Beverage Corp. during the second quarter valued at $183,000. Genesee Valley Trust Co. bought a new stake in Monster Beverage Corp. during the second quarter valued at $204,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Monster Beverage Corp. during the second quarter valued at $206,000. Hedge funds and other institutional investors own 67.42% of the company’s stock.

Monster Beverage Corp. (NASDAQ:MNST) opened at 145.84 on Friday. Monster Beverage Corp. has a 52 week low of $113.08 and a 52 week high of $166.50. The firm has a 50-day moving average of $150.15 and a 200-day moving average of $149.22. The company has a market cap of $27.76 billion, a price-to-earnings ratio of 45.52 and a beta of 0.74.

Monster Beverage Corp. (NASDAQ:MNST) last released its earnings results on Thursday, August 4th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by $0.04. The firm had revenue of $945.80 million for the quarter, compared to analyst estimates of $804.24 million. Monster Beverage Corp. had a net margin of 22.73% and a return on equity of 15.46%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 EPS. Equities analysts forecast that Monster Beverage Corp. will post $3.90 earnings per share for the current year.

Several equities research analysts have weighed in on MNST shares. Stifel Nicolaus raised their price objective on shares of Monster Beverage Corp. from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $172.00 price target (down previously from $173.00) on shares of Monster Beverage Corp. in a research report on Wednesday, June 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Monster Beverage Corp. in a research report on Monday, June 27th. Credit Agricole SA reiterated a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Monster Beverage Corp. in a research report on Friday, June 17th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $160.00 price target on shares of Monster Beverage Corp. in a research report on Wednesday, June 15th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Monster Beverage Corp. has an average rating of “Buy” and an average price target of $166.37.

In other news, VP Thomas J. Kelly sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $159.66, for a total transaction of $1,596,600.00. Following the completion of the sale, the vice president now owns 5,717 shares of the company’s stock, valued at approximately $912,776.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.20% of the company’s stock.

Monster Beverage Corp. Company Profile

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

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