Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. trimmed its stake in Monster Beverage Co. (NASDAQ:MNST) by 4.3% during the second quarter, HoldingsChannel.com reports. The fund owned 58,602 shares of the company’s stock after selling 2,648 shares during the period. Zions Bancorporation N.A.’s holdings in Monster Beverage were worth $2,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MNST. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $2,618,000. Executive Wealth Management LLC boosted its position in shares of Monster Beverage by 11.5% in the second quarter. Executive Wealth Management LLC now owns 46,667 shares of the company’s stock worth $2,331,000 after buying an additional 4,821 shares during the period. Meeder Advisory Services Inc. grew its holdings in shares of Monster Beverage by 23.7% during the second quarter. Meeder Advisory Services Inc. now owns 14,673 shares of the company’s stock valued at $733,000 after buying an additional 2,810 shares in the last quarter. Qsemble Capital Management LP acquired a new position in Monster Beverage during the second quarter valued at $1,992,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in Monster Beverage by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 854 shares of the company’s stock worth $43,000 after acquiring an additional 500 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group lowered their target price on Monster Beverage from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Roth Mkm lowered their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. cut their target price on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI cut their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Stock Performance

Shares of MNST opened at $49.91 on Friday. The company has a market capitalization of $48.89 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The company’s fifty day moving average price is $48.97 and its 200 day moving average price is $52.52.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm posted $0.39 EPS. Monster Beverage’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.

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.