Chevy Chase Trust Holdings LLC Sells 2,786 Shares of Monster Beverage Co. (NASDAQ:MNST)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 459,346 shares of the company’s stock after selling 2,786 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Monster Beverage were worth $27,230,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. GSA Capital Partners LLP lifted its holdings in Monster Beverage by 1,060.1% during the 1st quarter. GSA Capital Partners LLP now owns 64,736 shares of the company’s stock worth $3,838,000 after purchasing an additional 59,156 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Monster Beverage by 156.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 114,100 shares of the company’s stock valued at $6,764,000 after acquiring an additional 69,674 shares during the period. Daiwa Securities Group Inc. grew its stake in Monster Beverage by 10.8% during the first quarter. Daiwa Securities Group Inc. now owns 131,016 shares of the company’s stock valued at $7,767,000 after acquiring an additional 12,785 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in Monster Beverage by 10.5% in the 1st quarter. Fidelis Capital Partners LLC now owns 7,202 shares of the company’s stock valued at $427,000 after purchasing an additional 685 shares during the period. Finally, BNP Paribas bought a new position in Monster Beverage in the 1st quarter valued at $1,722,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MNST shares. Bank of America cut their price objective on Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday. Roth Mkm dropped their price objective on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, June 12th. Morgan Stanley reduced their target price on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $66.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of Monster Beverage in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.70.

Monster Beverage Stock Down 0.5 %

Shares of NASDAQ MNST traded down $0.24 during trading on Wednesday, reaching $49.56. 2,176,304 shares of the company traded hands, compared to its average volume of 7,499,758. The firm has a 50 day simple moving average of $51.68 and a 200-day simple moving average of $55.00. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $61.22. The stock has a market capitalization of $51.63 billion, a PE ratio of 31.13, a P/E/G ratio of 1.99 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts predict that Monster Beverage Co. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the transaction, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the transaction, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark J. Hall sold 250,000 shares of Monster Beverage stock in a transaction on Friday, June 7th. The shares were sold at an average price of $52.22, for a total value of $13,055,000.00. Following the transaction, the director now owns 532,754 shares in the company, valued at $27,820,413.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,221 shares of company stock valued at $16,070,374. Insiders own 7.80% 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.