Sather Financial Group Inc trimmed its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,031,646 shares of the company's stock after selling 24,707 shares during the quarter. Monster Beverage makes up 3.4% of Sather Financial Group Inc's portfolio, making the stock its 10th biggest position. Sather Financial Group Inc owned 0.11% of Monster Beverage worth $54,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Sustainable Insight Capital Management LLC bought a new position in shares of Monster Beverage in the 4th quarter worth about $1,214,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Monster Beverage by 6.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company's stock worth $13,124,000 after buying an additional 15,611 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Monster Beverage by 6.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company's stock worth $7,897,000 after buying an additional 9,496 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in shares of Monster Beverage in the 4th quarter worth about $7,090,000. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of Monster Beverage in the 3rd quarter worth about $630,000. 72.36% of the stock is currently owned by institutional investors.
Insider Transactions at Monster Beverage
In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the firm's stock in a transaction dated 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 $3,944,748.60. This trade represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 7.80% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on MNST. TD Cowen lifted their price objective on shares of Monster Beverage from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Stifel Nicolaus lifted their price objective on shares of Monster Beverage from $57.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. Argus lifted their price objective on shares of Monster Beverage from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Finally, Needham & Company LLC began coverage on shares of Monster Beverage in a research report on Friday, December 6th. They issued 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $55.53.
Check Out Our Latest Stock Analysis on MNST
Monster Beverage Price Performance
Shares of MNST traded down $0.27 during mid-day trading on Friday, hitting $49.25. The company's stock had a trading volume of 6,107,015 shares, compared to its average volume of 6,898,053. The firm has a 50-day moving average price of $50.34 and a 200 day moving average price of $50.98. The stock has a market capitalization of $47.90 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 1.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22.
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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