Principal Financial Group Inc. boosted its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 11.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,363,935 shares of the company's stock after buying an additional 141,495 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Monster Beverage worth $71,156,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in MNST. &PARTNERS lifted its stake in shares of Monster Beverage by 25.3% in the second quarter. &PARTNERS now owns 10,160 shares of the company's stock valued at $508,000 after buying an additional 2,052 shares in the last quarter. AlphaStar Capital Management LLC lifted its holdings in shares of Monster Beverage by 23.6% in the second quarter. AlphaStar Capital Management LLC now owns 18,401 shares of the company's stock valued at $919,000 after purchasing an additional 3,515 shares in the last quarter. Crew Capital Management Ltd. boosted its position in shares of Monster Beverage by 12.6% during the second quarter. Crew Capital Management Ltd. now owns 15,952 shares of the company's stock valued at $797,000 after buying an additional 1,791 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in Monster Beverage by 8.3% during the second quarter. Atomi Financial Group Inc. now owns 9,003 shares of the company's stock worth $450,000 after buying an additional 689 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in Monster Beverage by 3.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 9,245 shares of the company's stock valued at $462,000 after buying an additional 269 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Monster Beverage
In other 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 transaction, the chief financial officer now owns 74,924 shares of the company's stock, valued at approximately $3,944,748.60. This represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.80% of the company's stock.
Monster Beverage Stock Performance
Shares of NASDAQ:MNST traded up $0.82 during midday trading on Friday, reaching $51.72. 11,411,334 shares of the company traded hands, compared to its average volume of 6,796,069. The firm's fifty day moving average price is $53.57 and its two-hundred day moving average price is $51.05. The firm has a market capitalization of $50.30 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74. 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 12 month low of $43.32 and a 12 month high of $61.22.
Analysts Set New Price Targets
A number of research analysts recently weighed in on MNST shares. Needham & Company LLC initiated coverage on shares of Monster Beverage in a research report on Friday, December 6th. They set a "hold" rating on the stock. JPMorgan Chase & Co. reduced their target price on Monster Beverage from $50.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $61.00 to $59.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Stifel Nicolaus raised their target price on Monster Beverage from $57.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Argus boosted their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $56.30.
Check Out Our Latest Stock Analysis on MNST
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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