Retirement Systems of Alabama Sells 560,230 Shares of Monster Beverage Co. (NASDAQ:MNST)

Retirement Systems of Alabama lowered its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 78.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,604 shares of the company's stock after selling 560,230 shares during the period. Retirement Systems of Alabama's holdings in Monster Beverage were worth $7,968,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWA Asset Management Group LLC increased its position in Monster Beverage by 3.1% during the fourth quarter. CWA Asset Management Group LLC now owns 6,991 shares of the company's stock worth $367,000 after buying an additional 213 shares during the last quarter. Accretive Wealth Partners LLC increased its holdings in shares of Monster Beverage by 1.3% during the 3rd quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company's stock valued at $930,000 after acquiring an additional 225 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Monster Beverage by 20.6% in the 3rd quarter. UMB Bank n.a. now owns 1,412 shares of the company's stock valued at $74,000 after acquiring an additional 241 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Monster Beverage by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 39,187 shares of the company's stock worth $2,045,000 after purchasing an additional 259 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its position in Monster Beverage by 1.8% during the third quarter. Great Valley Advisor Group Inc. now owns 14,642 shares of the company's stock worth $764,000 after purchasing an additional 262 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Price Performance

Shares of Monster Beverage stock traded up $1.35 during mid-day trading on Thursday, reaching $49.52. 5,722,500 shares of the stock were exchanged, compared to its average volume of 6,212,662. The company has a market cap of $48.16 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 1.96 and a beta of 0.74. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $50.47 and a 200 day simple moving average of $51.00.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Argus boosted their price objective on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. TD Cowen boosted their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on Monster Beverage from $52.00 to $51.00 and set a "neutral" rating on the stock in a research report on Wednesday. BNP Paribas cut their price objective on Monster Beverage from $46.00 to $45.00 and set an "underperform" rating for the company in a research report on Thursday, December 19th. Finally, UBS Group cut their price target on Monster Beverage from $57.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Monster Beverage currently has an average rating of "Hold" and a consensus target price of $55.53.

Insider Activity

In related news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 74,924 shares in the company, valued at $3,944,748.60. This represents a 11.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.80% of the stock is currently owned by corporate insiders.

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.