Pinnacle Financial Partners Inc. Decreases Position in Monster Beverage Corp (MNST)

Pinnacle Financial Partners Inc. trimmed its holdings in Monster Beverage Corp (NASDAQ:MNST) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,887 shares of the company’s stock after selling 2,691 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Monster Beverage were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MNST. Laurel Wealth Advisors Inc. increased its stake in Monster Beverage by 14.5% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 6,594 shares of the company’s stock valued at $377,000 after purchasing an additional 836 shares in the last quarter. Lido Advisors LLC bought a new stake in Monster Beverage during the 2nd quarter valued at about $202,000. Trexquant Investment LP increased its stake in Monster Beverage by 65.4% during the 2nd quarter. Trexquant Investment LP now owns 12,225 shares of the company’s stock valued at $700,000 after purchasing an additional 4,835 shares in the last quarter. US Bancorp DE increased its stake in Monster Beverage by 17.8% during the 2nd quarter. US Bancorp DE now owns 59,670 shares of the company’s stock valued at $3,420,000 after purchasing an additional 9,031 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Monster Beverage by 2.6% during the 2nd quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock valued at $1,365,558,000 after purchasing an additional 604,939 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

MNST opened at $54.45 on Friday. The company has a market capitalization of $29.27 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 1.91 and a beta of 1.36. Monster Beverage Corp has a 12-month low of $47.61 and a 12-month high of $70.21.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Monster Beverage had a net margin of 25.27% and a return on equity of 24.39%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, analysts expect that Monster Beverage Corp will post 1.73 EPS for the current year.

Monster Beverage declared that its board has initiated a share repurchase program on Wednesday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

MNST has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Monster Beverage from $63.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, July 12th. ValuEngine raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. Zacks Investment Research raised shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Friday, July 20th. BidaskClub raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Finally, Citigroup raised their price target on shares of Monster Beverage from $62.00 to $71.00 and gave the company a “buy” rating in a report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $65.06.

In related news, insider Emelie Tirre sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $60.91, for a total value of $1,035,470.00. Following the transaction, the insider now owns 46,847 shares of the company’s stock, valued at $2,853,450.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.70% of the company’s stock.

Monster Beverage Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

Further Reading: Asset Allocation

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

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