Montrusco Bolton Investments Inc. Sells 1,864,066 Shares of Monster Beverage Corporation $MNST

Montrusco Bolton Investments Inc. lessened its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 34.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,502,060 shares of the company’s stock after selling 1,864,066 shares during the quarter. Monster Beverage comprises approximately 2.4% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 17th largest position. Montrusco Bolton Investments Inc.’s holdings in Monster Beverage were worth $216,030,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in Monster Beverage by 23.1% during the 1st quarter. Farther Finance Advisors LLC now owns 7,400 shares of the company’s stock valued at $437,000 after purchasing an additional 1,390 shares during the period. GAMMA Investing LLC boosted its stake in Monster Beverage by 2.2% during the 1st quarter. GAMMA Investing LLC now owns 21,433 shares of the company’s stock valued at $1,254,000 after purchasing an additional 460 shares during the period. Integrated Advisors Network LLC bought a new stake in Monster Beverage during the 1st quarter valued at approximately $203,000. CVA Family Office LLC boosted its stake in Monster Beverage by 28.6% during the 1st quarter. CVA Family Office LLC now owns 1,519 shares of the company’s stock valued at $89,000 after purchasing an additional 338 shares during the period. Finally, Azzad Asset Management Inc. ADV boosted its stake in Monster Beverage by 1.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 39,872 shares of the company’s stock valued at $2,333,000 after purchasing an additional 483 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $69.62 on Monday. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $70.06. The company has a market capitalization of $67.98 billion, a PE ratio of 43.24, a PEG ratio of 2.42 and a beta of 0.54. The company has a 50 day moving average price of $64.31 and a two-hundred day moving average price of $62.01.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Monster Beverage in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on Monster Beverage from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Wells Fargo & Company set a $73.00 target price on Monster Beverage and gave the company an “overweight” rating in a research note on Friday, August 8th. Wall Street Zen cut Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Finally, Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and upped their price target for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $66.05.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage 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 transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.30% of the company’s stock.

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.