Handelsbanken Fonder AB Purchases 182,221 Shares of Monster Beverage Co. (NASDAQ:MNST)

Handelsbanken Fonder AB raised its position in Monster Beverage Co. (NASDAQ:MNST) by 69.2% during the fourth quarter, Holdings Channel reports. The fund owned 445,471 shares of the company’s stock after acquiring an additional 182,221 shares during the period. Handelsbanken Fonder AB’s holdings in Monster Beverage were worth $23,414,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elk River Wealth Management LLC lifted its stake in shares of Monster Beverage by 218.9% in the 4th quarter. Elk River Wealth Management LLC now owns 84,565 shares of the company’s stock worth $4,445,000 after purchasing an additional 58,049 shares during the period. Cumberland Partners Ltd purchased a new stake in Monster Beverage during the fourth quarter valued at approximately $1,776,000. Kestra Investment Management LLC purchased a new stake in Monster Beverage during the fourth quarter valued at approximately $124,000. Atria Wealth Solutions Inc. raised its position in Monster Beverage by 22.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 12,454 shares of the company’s stock worth $655,000 after acquiring an additional 2,317 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of Monster Beverage by 22.1% during the 4th quarter. Venturi Wealth Management LLC now owns 5,941 shares of the company’s stock worth $312,000 after acquiring an additional 1,077 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $51.21 on Friday. The firm has a fifty day simple moving average of $50.18 and a two-hundred day simple moving average of $50.96. 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 stock has a market capitalization of $49.80 billion, a P/E ratio of 32.83, a PEG ratio of 2.18 and a beta of 0.74. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22.

Insiders Place Their Bets

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 transaction, the chief financial officer now owns 74,924 shares of the company’s stock, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MNST. Needham & Company LLC started coverage on Monster Beverage in a research note on Friday, December 6th. They issued a “hold” rating for the company. TD Cowen upped their price target on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. Stifel Nicolaus boosted their price objective on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.