Miracle Mile Advisors LLC Invests $7.09 Million in Monster Beverage Co. (NASDAQ:MNST)

Miracle Mile Advisors LLC acquired a new position in shares of Monster Beverage Co. (NASDAQ:MNST) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 134,890 shares of the company’s stock, valued at approximately $7,090,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in Monster Beverage in the 2nd quarter worth about $30,000. Quarry LP lifted its stake in shares of Monster Beverage by 152.0% in the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after buying an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Monster Beverage by 16,085.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company’s stock valued at $59,000 after buying an additional 1,126 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Monster Beverage by 84.9% during the fourth quarter. Versant Capital Management Inc now owns 1,185 shares of the company’s stock valued at $62,000 after acquiring an additional 544 shares in the last quarter. Finally, DT Investment Partners LLC raised its holdings in Monster Beverage by 38.6% in the 3rd quarter. DT Investment Partners LLC now owns 1,386 shares of the company’s stock worth $72,000 after acquiring an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In related 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 transaction of $526,500.00. Following the completion of the transaction, the chief financial officer now owns 74,924 shares in the company, valued at approximately $3,944,748.60. This represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MNST shares. 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. Stifel Nicolaus upped their target price 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 8th. TD Cowen boosted their price objective on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company raised their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.30.

Monster Beverage Price Performance

Monster Beverage stock traded up $0.25 during mid-day trading on Monday, hitting $49.99. The stock had a trading volume of 5,632,529 shares, compared to its average volume of 4,523,605. Monster Beverage Co. has a one year low of $43.32 and a one year 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 market capitalization of $48.62 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.52 and a beta of 0.74. The firm’s 50 day moving average is $53.26 and its 200 day moving average is $51.28.

Monster Beverage Company 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.