Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Elk River Wealth Management LLC

Elk River Wealth Management LLC raised its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 218.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,565 shares of the company's stock after purchasing an additional 58,049 shares during the period. Elk River Wealth Management LLC's holdings in Monster Beverage were worth $4,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Creative Planning increased its position in shares of Monster Beverage by 12.8% during the third quarter. Creative Planning now owns 90,773 shares of the company's stock worth $4,736,000 after purchasing an additional 10,284 shares in the last quarter. Blue Trust Inc. increased its position in Monster Beverage by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 7,198 shares of the company's stock valued at $360,000 after buying an additional 3,020 shares in the last quarter. Whittier Trust Co. raised its stake in Monster Beverage by 644.6% in the third quarter. Whittier Trust Co. now owns 9,412 shares of the company's stock valued at $491,000 after buying an additional 8,148 shares during the last quarter. BLB&B Advisors LLC boosted its holdings in Monster Beverage by 1.5% in the third quarter. BLB&B Advisors LLC now owns 143,982 shares of the company's stock worth $7,512,000 after acquiring an additional 2,108 shares in the last quarter. Finally, Greenleaf Trust grew its stake in shares of Monster Beverage by 12.1% during the third quarter. Greenleaf Trust now owns 14,670 shares of the company's stock worth $765,000 after acquiring an additional 1,589 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $52.65, for a total value of $526,500.00. Following the completion of the sale, the chief financial officer now directly owns 74,924 shares in the company, valued at $3,944,748.60. This represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on MNST shares. TD Cowen increased their price objective on shares of Monster Beverage from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, November 11th. BNP Paribas decreased their price target on shares of Monster Beverage from $46.00 to $45.00 and set an "underperform" rating for the company in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Royal Bank of Canada restated an "outperform" rating and issued a $59.00 target price on shares of Monster Beverage in a research note on Wednesday, January 22nd. Finally, UBS Group dropped their price target on Monster Beverage from $57.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Two research 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 MarketBeat, the company currently has an average rating of "Hold" and an average target price of $55.53.

Monster Beverage Price Performance

NASDAQ:MNST traded up $1.98 during trading hours on Friday, hitting $53.19. 3,813,885 shares of the stock were exchanged, compared to its average volume of 6,238,204. The firm's fifty day moving average price is $50.18 and its 200 day moving average price is $50.96. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. 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 $51.73 billion, a P/E ratio of 34.09, a P/E/G ratio of 2.30 and a beta of 0.74.

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.