30,892 Shares in Monster Beverage Co. (NASDAQ:MNST) Acquired by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC bought a new position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,892 shares of the company's stock, valued at approximately $1,624,000. Monster Beverage accounts for 1.4% of Elevate Capital Advisors LLC's holdings, making the stock its 26th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after acquiring an additional 203 shares during the last quarter. Spire Wealth Management acquired a new stake in Monster Beverage during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in Monster Beverage during the fourth quarter worth about $30,000. Geneos Wealth Management Inc. acquired a new stake in Monster Beverage during the fourth quarter worth about $33,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in Monster Beverage by 16,085.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company's stock worth $59,000 after acquiring an additional 1,126 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Up 2.8 %

NASDAQ MNST traded up $1.35 during mid-day trading on Thursday, reaching $49.52. 5,722,500 shares of the company's stock traded hands, compared to its average volume of 6,212,662. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a fifty day simple moving average of $50.47 and a 200-day simple moving average of $51.00. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The company has a market cap of $48.16 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 1.96 and a beta of 0.74.

Insiders Place Their Bets

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $52.65, for a total transaction of $526,500.00. Following the transaction, the chief financial officer now owns 74,924 shares of the company's stock, valued at $3,944,748.60. This trade represents a 11.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. BNP Paribas dropped their price target on Monster Beverage from $46.00 to $45.00 and set an "underperform" rating for the company in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lowered their target price on Monster Beverage from $61.00 to $59.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $59.00 target price on shares of Monster Beverage in a research note on Wednesday, January 22nd. Argus increased their target price on Monster Beverage from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, Needham & Company LLC initiated coverage on Monster Beverage in a research note on Friday, December 6th. They issued a "hold" rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $55.53.

Monster Beverage 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.