Keybank National Association OH trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 33.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,285 shares of the company’s stock after selling 13,402 shares during the quarter. Keybank National Association OH’s holdings in Monster Beverage were worth $1,664,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. New Mexico Educational Retirement Board boosted its position in Monster Beverage by 6.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 39,900 shares of the company’s stock valued at $2,525,000 after buying an additional 2,400 shares during the last quarter. Rational Advisors LLC bought a new position in Monster Beverage in the 4th quarter valued at $654,000. Penserra Capital Management LLC boosted its position in Monster Beverage by 689.0% in the 4th quarter. Penserra Capital Management LLC now owns 26,067 shares of the company’s stock valued at $1,649,000 after buying an additional 22,763 shares during the last quarter. Roundview Capital LLC acquired a new position in shares of Monster Beverage in the 4th quarter valued at $316,000. Finally, Cape Cod Five Cents Savings Bank lifted its stake in shares of Monster Beverage by 28.8% in the 4th quarter. Cape Cod Five Cents Savings Bank now owns 43,155 shares of the company’s stock valued at $2,731,000 after purchasing an additional 9,656 shares during the period. Hedge funds and other institutional investors own 65.26% of the company’s stock.
A number of research analysts have recently weighed in on MNST shares. Cowen reissued a “buy” rating and issued a $58.00 price target on shares of Monster Beverage in a research note on Friday, October 27th. Deutsche Bank started coverage on Monster Beverage in a research note on Wednesday, December 13th. They issued a “hold” rating and a $66.00 price target on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $77.00 price target (up previously from $69.00) on shares of Monster Beverage in a research note on Wednesday, January 17th. Zacks Investment Research raised Monster Beverage from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, January 19th. Finally, BidaskClub downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Monster Beverage has a consensus rating of “Buy” and a consensus target price of $64.41.
In related news, Chairman Rodney C. Sacks sold 189,861 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $63.92, for a total transaction of $12,135,915.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rodney C. Sacks sold 697 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total value of $44,963.47. Following the sale, the chief executive officer now directly owns 963,789 shares in the company, valued at approximately $62,174,028.39. The disclosure for this sale can be found here. Insiders have sold a total of 268,026 shares of company stock worth $17,179,867 in the last ninety days. 9.40% of the stock is currently owned by company insiders.
Shares of Monster Beverage Co. (MNST) opened at $65.48 on Tuesday. The company has a market capitalization of $36,928.32, a price-to-earnings ratio of 44.54, a P/E/G ratio of 1.92 and a beta of 1.09. Monster Beverage Co. has a 12 month low of $41.02 and a 12 month high of $70.21.
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Monster Beverage Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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