Montrusco Bolton Investments Inc. Sells 90,324 Shares of Monster Beverage Corporation $MNST

Montrusco Bolton Investments Inc. cut its position in Monster Beverage Corporation (NASDAQ:MNST) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,411,736 shares of the company’s stock after selling 90,324 shares during the quarter. Monster Beverage comprises about 2.6% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 14th biggest holding. Montrusco Bolton Investments Inc.’s holdings in Monster Beverage were worth $226,186,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Monster Beverage by 3.2% during the third quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after buying an additional 2,122,685 shares in the last quarter. State Street Corp raised its stake in Monster Beverage by 2.6% in the 2nd quarter. State Street Corp now owns 34,929,818 shares of the company’s stock worth $2,188,004,000 after purchasing an additional 900,479 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Monster Beverage by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 26,450,305 shares of the company’s stock valued at $1,656,847,000 after purchasing an additional 385,692 shares during the period. Geode Capital Management LLC grew its position in shares of Monster Beverage by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 18,680,424 shares of the company’s stock worth $1,165,292,000 after purchasing an additional 742,518 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Monster Beverage by 20.0% during the second quarter. Invesco Ltd. now owns 10,983,411 shares of the company’s stock worth $688,001,000 after purchasing an additional 1,829,064 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $85.41 on Thursday. Monster Beverage Corporation has a 1 year low of $50.93 and a 1 year high of $85.77. The firm has a market cap of $83.45 billion, a PE ratio of 48.53, a price-to-earnings-growth ratio of 2.19 and a beta of 0.45. The company has a 50 day simple moving average of $79.71 and a 200 day simple moving average of $72.16.

Insider Buying and Selling at Monster Beverage

In related news, insider Emelie Tirre sold 30,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the completion of the transaction, the insider directly owned 63,939 shares of the company’s stock, valued at $4,687,368.09. This trade represents a 31.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rodney C. Sacks sold 206,543 shares of Monster Beverage stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.58, for a total value of $15,197,433.94. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $96.00 price target (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. Bank of America raised their price target on Monster Beverage from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. BMO Capital Markets reaffirmed a “market perform” rating and set a $73.00 price objective (up from $53.00) on shares of Monster Beverage in a research report on Wednesday, December 3rd. Piper Sandler set a $85.00 target price on shares of Monster Beverage in a report on Wednesday, December 3rd. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $70.00 price target on shares of Monster Beverage in a report on Wednesday, December 3rd. Fourteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Monster Beverage Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.