Wealth Alliance Sells 318 Shares of Monster Beverage Co. (NASDAQ:MNST)

Wealth Alliance trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,480 shares of the company’s stock after selling 318 shares during the period. Wealth Alliance’s holdings in Monster Beverage were worth $446,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sustainable Insight Capital Management LLC bought a new stake in shares of Monster Beverage in the fourth quarter valued at about $1,214,000. Van ECK Associates Corp lifted its holdings in shares of Monster Beverage by 5.3% in the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock valued at $8,101,000 after purchasing an additional 7,780 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Monster Beverage by 6.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock valued at $13,124,000 after purchasing an additional 15,611 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Monster Beverage by 6.7% during the third quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after acquiring an additional 9,496 shares in the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in Monster Beverage during the fourth quarter worth about $7,090,000. 72.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Cowen upped their target price on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Argus upped their target price on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company upped their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Needham & Company LLC assumed coverage on Monster Beverage in a report on Friday, December 6th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 target price on shares of Monster Beverage in a report on Wednesday, January 22nd. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.53.

Insider Activity

In other news, CFO Thomas J. Kelly sold 10,000 shares of the company’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 value 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 represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.80% of the stock is owned by company insiders.

Monster Beverage Price Performance

Monster Beverage stock opened at $53.00 on Friday. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The stock’s 50 day moving average is $50.18 and its 200-day moving average is $50.97. 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 company has a market capitalization of $51.54 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.30 and a beta of 0.74.

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.