Handelsbanken Fonder AB Buys 182,221 Shares of Monster Beverage Co. (NASDAQ:MNST)

Handelsbanken Fonder AB boosted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 69.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 445,471 shares of the company's stock after purchasing an additional 182,221 shares during the quarter. Handelsbanken Fonder AB's holdings in Monster Beverage were worth $23,414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in Monster Beverage by 62.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock valued at $28,000 after purchasing an additional 203 shares during the period. Spire Wealth Management bought a new stake in Monster Beverage in the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new stake in Monster Beverage in the 4th quarter worth approximately $30,000. Geneos Wealth Management Inc. bought a new stake in Monster Beverage in the 4th quarter worth approximately $33,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in Monster Beverage by 16,085.7% in the 3rd 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.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the company's stock in a transaction on 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 directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of research reports. Stifel Nicolaus lifted their price objective on Monster Beverage from $57.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. TD Cowen lifted their price objective on Monster Beverage from $50.00 to $55.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. BNP Paribas reduced their price objective on Monster Beverage from $46.00 to $45.00 and set an "underperform" rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company lifted their price objective on Monster Beverage from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC assumed coverage on Monster Beverage in a research report on Friday, December 6th. They set a "hold" rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $55.53.

Monster Beverage Trading Up 3.5 %

MNST traded up $1.79 during trading hours on Friday, reaching $53.00. 7,703,034 shares of the company's stock traded hands, compared to its average volume of 6,357,763. The firm has a 50-day moving average price of $50.18 and a 200 day moving average price of $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 quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $51.54 billion, a PE ratio of 33.97, a PEG 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.