Empower Advisory Group LLC lifted its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,262,180 shares of the company's stock after acquiring an additional 77,278 shares during the period. Empower Advisory Group LLC owned about 0.13% of Monster Beverage worth $66,340,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its position in shares of Monster Beverage by 109.3% during the 3rd quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company's stock valued at $1,176,913,000 after buying an additional 11,779,162 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its stake in Monster Beverage by 250.9% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company's stock valued at $178,801,000 after acquiring an additional 2,480,291 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Monster Beverage by 1,148.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company's stock valued at $135,480,000 after purchasing an additional 2,388,798 shares during the last quarter. State Street Corp raised its position in shares of Monster Beverage by 6.9% during the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company's stock worth $1,760,341,000 after purchasing an additional 2,168,379 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of Monster Beverage in the 3rd quarter worth approximately $73,600,000. 72.36% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Royal Bank of Canada restated an "outperform" rating and set a $59.00 price objective on shares of Monster Beverage in a research note on Wednesday, January 22nd. Needham & Company LLC initiated coverage on shares of Monster Beverage in a report on Friday, December 6th. They issued a "hold" rating on the stock. Argus lifted their price objective on shares of Monster Beverage from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Wells Fargo & Company upped their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, BNP Paribas cut their price target on Monster Beverage from $46.00 to $45.00 and set an "underperform" rating on the stock in a report on Thursday, December 19th. Two 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 stock currently has a consensus rating of "Hold" and a consensus price target of $55.53.
Check Out Our Latest Stock Analysis on MNST
Monster Beverage Price Performance
Shares of MNST traded up $1.79 during mid-day trading on Friday, hitting $53.00. The company's stock had a trading volume of 7,703,034 shares, compared to its average volume of 6,357,763. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The firm has a 50-day moving average price of $50.18 and a 200 day moving average price of $50.97. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The stock has a market capitalization of $51.54 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.30 and a beta of 0.74.
Insider Buying and Selling
In other news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 74,924 shares in the company, valued at approximately $3,944,748.60. This represents a 11.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.80% of the stock is currently owned by insiders.
About Monster Beverage
(
Free Report)
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.
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