Monster Beverage Co. (NASDAQ:MNST) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 21.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,832 shares of the company's stock after selling 21,453 shares during the quarter. State of Alaska Department of Revenue's holdings in Monster Beverage were worth $4,195,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MNST. State Street Corp boosted its holdings in Monster Beverage by 6.9% in the third quarter. State Street Corp now owns 33,742,390 shares of the company's stock valued at $1,760,341,000 after purchasing an additional 2,168,379 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Monster Beverage by 4.7% in the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company's stock worth $1,416,048,000 after acquiring an additional 1,229,789 shares during the period. Janus Henderson Group PLC raised its position in shares of Monster Beverage by 109.3% in the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company's stock worth $1,176,913,000 after acquiring an additional 11,779,162 shares during the period. Geode Capital Management LLC raised its position in shares of Monster Beverage by 3.1% in the third quarter. Geode Capital Management LLC now owns 15,728,086 shares of the company's stock worth $817,490,000 after acquiring an additional 473,418 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Monster Beverage by 18.1% in the third quarter. Wellington Management Group LLP now owns 3,898,127 shares of the company's stock worth $203,365,000 after acquiring an additional 596,078 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Shares of MNST stock traded up $0.11 during mid-day trading on Wednesday, hitting $48.17. 2,696,186 shares of the stock were exchanged, compared to its average volume of 6,248,828. The stock's fifty day simple moving average is $50.58 and its two-hundred day simple moving average is $51.02. The stock has a market capitalization of $46.85 billion, a price-to-earnings ratio of 30.88, a P/E/G ratio of 1.96 and a beta of 0.74. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Insiders Place Their Bets

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 stock was sold at an average price of $52.65, for a total transaction 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 trade represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BNP Paribas reduced their price target on shares of Monster Beverage from $46.00 to $45.00 and set an "underperform" rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $59.00 price objective on shares of Monster Beverage in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped 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 note on Wednesday. Stifel Nicolaus increased their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, Bank of America increased their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Monster Beverage presently has a consensus rating of "Hold" and a consensus target price of $55.53.

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.