Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 154,125 shares of the company's stock after buying an additional 7,780 shares during the quarter. Van ECK Associates Corp's holdings in Monster Beverage were worth $8,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Marks Group Wealth Management Inc raised its position in shares of Monster Beverage by 1.3% in the 4th quarter. Marks Group Wealth Management Inc now owns 78,040 shares of the company's stock valued at $4,102,000 after purchasing an additional 967 shares during the last quarter. Quent Capital LLC raised its position in shares of Monster Beverage by 127.7% in the 4th quarter. Quent Capital LLC now owns 1,380 shares of the company's stock valued at $73,000 after purchasing an additional 774 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Monster Beverage by 59.1% in the 4th quarter. Summit Trail Advisors LLC now owns 23,490 shares of the company's stock valued at $1,235,000 after purchasing an additional 8,726 shares during the last quarter. Sapient Capital LLC raised its position in shares of Monster Beverage by 0.5% in the 4th quarter. Sapient Capital LLC now owns 46,082 shares of the company's stock valued at $2,422,000 after purchasing an additional 228 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Monster Beverage in the 4th quarter valued at approximately $67,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Down 0.9 %

Shares of MNST stock traded down $0.48 on Thursday, hitting $51.21. The stock had a trading volume of 7,027,583 shares, compared to its average volume of 6,306,543. 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 market capitalization of $49.80 billion, a P/E ratio of 32.83, a P/E/G ratio of 2.18 and a beta of 0.74. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The company's 50 day moving average price is $50.21 and its 200-day moving average price is $50.95.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MNST. Argus raised their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price target on shares of Monster Beverage from $52.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Needham & Company LLC began coverage on shares of Monster Beverage in a research report on Friday, December 6th. They set a "hold" rating for the company. UBS Group reduced their price target on shares of Monster Beverage from $57.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $59.00 price target on shares of Monster Beverage in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $55.53.

Insider Activity at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the business'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 sale, the chief financial officer now owns 74,924 shares in the company, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.80% of the company's stock.

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.