Fulton Bank N.A. Sells 1,351 Shares of Monster Beverage Co. (NASDAQ:MNST)

Fulton Bank N.A. reduced its stake in Monster Beverage Co. (NASDAQ:MNST) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,541 shares of the company’s stock after selling 1,351 shares during the period. Fulton Bank N.A.’s holdings in Monster Beverage were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of Monster Beverage in the first quarter valued at approximately $26,000. ICA Group Wealth Management LLC bought a new stake in Monster Beverage during the fourth quarter worth $27,000. Tortoise Investment Management LLC lifted its stake in Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after purchasing an additional 396 shares during the last quarter. Crewe Advisors LLC bought a new stake in Monster Beverage during the first quarter worth $37,000. Finally, Rise Advisors LLC lifted its stake in Monster Beverage by 187.6% during the first quarter. Rise Advisors LLC now owns 716 shares of the company’s stock worth $42,000 after purchasing an additional 467 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the transaction, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,534,458.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the transaction, the chief executive officer now directly owns 1,875,558 shares in the company, valued at approximately $99,404,574. The disclosure for this sale can be found here. In the last ninety days, insiders sold 307,221 shares of company stock worth $16,070,374. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MNST shares. Stifel Nicolaus cut their target price on Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, June 17th. Roth Mkm cut their target price on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, June 12th. TD Cowen cut their target price on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft cut their target price 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, Morgan Stanley lowered their price target on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.33.

Monster Beverage Stock Up 0.7 %

Monster Beverage stock traded up $0.33 during trading hours on Tuesday, reaching $50.80. 5,145,777 shares of the company’s stock were exchanged, compared to its average volume of 7,266,758. The firm’s 50 day simple moving average is $50.43 and its 200 day simple moving average is $54.04. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22. The firm has a market capitalization of $52.92 billion, a PE ratio of 31.95, a PEG ratio of 2.09 and a beta of 0.76.

Monster Beverage Company Profile

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.