Epoch Investment Partners Inc. Cuts Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Epoch Investment Partners Inc. cut its holdings in Monster Beverage Co. (NASDAQ:MNST) by 14.6% in the second quarter, Holdings Channel reports. The institutional investor owned 520,711 shares of the company’s stock after selling 89,273 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Monster Beverage were worth $47,567,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Greenleaf Trust increased its position in shares of Monster Beverage by 2.4% in the second quarter. Greenleaf Trust now owns 4,632 shares of the company’s stock valued at $423,000 after buying an additional 110 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Monster Beverage by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,356 shares of the company’s stock valued at $4,235,000 after buying an additional 119 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Monster Beverage by 7.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,841 shares of the company’s stock valued at $168,000 after buying an additional 127 shares in the last quarter. National Asset Management Inc. boosted its stake in shares of Monster Beverage by 3.9% in the second quarter. National Asset Management Inc. now owns 3,431 shares of the company’s stock worth $314,000 after acquiring an additional 129 shares during the last quarter. Finally, Key Financial Inc boosted its stake in shares of Monster Beverage by 31.2% in the second quarter. Key Financial Inc now owns 551 shares of the company’s stock worth $52,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 63.24% of the company’s stock.

Shares of Monster Beverage stock traded up $0.49 during trading hours on Thursday, hitting $85.82. The company’s stock had a trading volume of 66,938 shares, compared to its average volume of 1,917,654. Monster Beverage Co. has a twelve month low of $75.45 and a twelve month high of $99.89. The firm has a fifty day moving average of $94.37 and a 200-day moving average of $93.77. The stock has a market cap of $45.39 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 2.48 and a beta of 1.11.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 5th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Monster Beverage had a return on equity of 25.97% and a net margin of 29.88%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.38 billion. Equities analysts predict that Monster Beverage Co. will post 2.62 earnings per share for the current year.

A number of brokerages have recently issued reports on MNST. Stifel Nicolaus reaffirmed a “buy” rating and issued a $107.00 price target on shares of Monster Beverage in a research note on Friday, July 16th. Wells Fargo & Company lowered their price target on Monster Beverage from $105.00 to $101.00 and set an “overweight” rating on the stock in a research note on Thursday. Jefferies Financial Group lowered Monster Beverage from a “buy” rating to a “hold” rating and lowered their price target for the stock from $113.00 to $92.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Monster Beverage from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Finally, Citigroup raised Monster Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $97.00 to $110.00 in a research note on Friday, July 23rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of “Buy” and an average price target of $104.31.

In other news, insider Emelie Tirre sold 42,000 shares of the company’s stock in a transaction on Monday, August 16th. The stock was sold at an average price of $98.24, for a total value of $4,126,080.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.40% of the company’s stock.

Monster Beverage Profile

Monster Beverage Corp. is a holding company, which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other. The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

Further Reading: When can a hold rating present a buying opportunity?

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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