Miracle Mile Advisors LLC Acquires Shares of 134,890 Monster Beverage Co. (NASDAQ:MNST)

Miracle Mile Advisors LLC bought a new stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 134,890 shares of the company's stock, valued at approximately $7,090,000.

A number of other hedge funds also recently made changes to their positions in MNST. Dai ichi Life Insurance Company Ltd raised its stake in Monster Beverage by 2.3% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company's stock valued at $1,192,000 after acquiring an additional 532 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Monster Beverage by 6.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company's stock worth $13,124,000 after purchasing an additional 15,611 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Monster Beverage by 6.7% in the third quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company's stock valued at $7,897,000 after purchasing an additional 9,496 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in shares of Monster Beverage during the 3rd quarter valued at approximately $630,000. Finally, Wellington Management Group LLP boosted its holdings in Monster Beverage by 18.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,898,127 shares of the company's stock worth $203,365,000 after buying an additional 596,078 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Insider Activity

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 shares were sold at an average price of $52.65, for a total value of $526,500.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.80% of the company's stock.

Analysts Set New Price Targets

MNST has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $61.00 to $59.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their target price on Monster Beverage from $50.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. UBS Group lifted their target price on Monster Beverage from $55.00 to $57.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Wells Fargo & Company increased their price target on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC began coverage on shares of Monster Beverage in a research note on Friday, December 6th. They set a "hold" rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.30.

Monster Beverage Trading Up 0.5 %

Shares of MNST traded up $0.25 during trading hours on Monday, hitting $49.99. The company had a trading volume of 5,632,529 shares, compared to its average volume of 4,523,605. The firm has a market cap of $48.62 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.52 and a beta of 0.74. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The stock's 50 day moving average price is $53.26 and its 200 day moving average price is $51.28. 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 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.

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