Amalgamated Bank Sells 7,280 Shares of Monster Beverage Co. (NASDAQ:MNST)

Amalgamated Bank trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,959 shares of the company’s stock after selling 7,280 shares during the period. Amalgamated Bank’s holdings in Monster Beverage were worth $7,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Monster Beverage by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock valued at $3,837,867,000 after purchasing an additional 1,059,042 shares during the period. Clearbridge Investments LLC grew its holdings in Monster Beverage by 0.3% during the first quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock valued at $691,182,000 after purchasing an additional 37,391 shares during the period. Janus Henderson Group PLC grew its holdings in Monster Beverage by 4.1% during the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after purchasing an additional 440,962 shares during the period. Capital Research Global Investors grew its holdings in Monster Beverage by 40.6% during the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after purchasing an additional 3,026,657 shares during the period. Finally, Ninety One UK Ltd grew its holdings in Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after purchasing an additional 3,620,436 shares during the period. 72.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MNST has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. BMO Capital Markets cut their price target on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada cut their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Jefferies Financial Group cut their price target on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.85.

Monster Beverage Trading Down 1.0 %

NASDAQ MNST opened at $51.83 on Friday. The stock’s 50-day simple moving average is $49.11 and its two-hundred day simple moving average is $52.32. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $53.99 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 2.28 and a beta of 0.74.

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