Entropy Technologies LP purchased a new position in Monster Beverage Co. (NASDAQ:MNST - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,725 shares of the company's stock, valued at approximately $301,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its position in Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock valued at $28,000 after buying an additional 203 shares during the period. Spire Wealth Management bought a new position in Monster Beverage in the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in Monster Beverage during the 4th quarter valued at approximately $30,000. Geneos Wealth Management Inc. bought a new stake in shares of Monster Beverage during the fourth quarter valued at approximately $33,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in shares of 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. Institutional investors own 72.36% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on MNST. UBS Group reduced their price objective 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. Wells Fargo & Company lifted their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. BNP Paribas decreased 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. TD Cowen raised their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $59.00 price target on shares of Monster Beverage in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $55.53.
Check Out Our Latest Research Report on MNST
Insider Activity
In other news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The stock was 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 owns 74,924 shares in the company, valued at approximately $3,944,748.60. This trade represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.80% of the company's stock.
Monster Beverage Trading Down 0.5 %
Shares of NASDAQ MNST traded down $0.27 during midday trading on Monday, hitting $49.25. The stock had a trading volume of 6,107,015 shares, compared to its average volume of 6,898,053. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a market capitalization of $47.90 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 1.96 and a beta of 0.74. The company has a fifty day moving average price of $50.34 and a 200 day moving average price of $50.97.
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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