Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by Elk River Wealth Management LLC

Elk River Wealth Management LLC boosted its position in Monster Beverage Co. (NASDAQ:MNST) by 218.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 84,565 shares of the company’s stock after purchasing an additional 58,049 shares during the quarter. Elk River Wealth Management LLC’s holdings in Monster Beverage were worth $4,445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNST. State Street Corp raised its position 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 period. Loomis Sayles & Co. L P raised its position in 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 valued at $1,416,048,000 after purchasing an additional 1,229,789 shares during the period. Janus Henderson Group PLC raised its position in Monster Beverage by 109.3% in the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock valued at $1,176,913,000 after purchasing an additional 11,779,162 shares during the period. Geode Capital Management LLC raised its position in Monster Beverage by 3.1% in the third quarter. Geode Capital Management LLC now owns 15,728,086 shares of the company’s stock valued at $817,490,000 after purchasing an additional 473,418 shares during the period. Finally, Wellington Management Group LLP raised its position in Monster Beverage by 18.1% in the third quarter. Wellington Management Group LLP now owns 3,898,127 shares of the company’s stock valued at $203,365,000 after purchasing an additional 596,078 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST stock opened at $51.69 on Thursday. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $50.21 and a two-hundred day moving average of $50.95. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The company has a market cap of $50.27 billion, a P/E ratio of 33.13, a PEG ratio of 2.09 and a beta of 0.74.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MNST. TD Cowen lifted their target price on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Stifel Nicolaus lifted their target price on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their target price on Monster Beverage from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Monster Beverage has an average rating of “Hold” and a consensus price target of $55.53.

Insider Buying and Selling at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 74,924 shares in the company, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.80% of the stock is currently owned by insiders.

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.