Monster Beverage Co. (NASDAQ:MNST) Stock Holdings Trimmed by Ieq Capital LLC

Ieq Capital LLC lessened its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 63.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,120 shares of the company’s stock after selling 38,777 shares during the period. Ieq Capital LLC’s holdings in Monster Beverage were worth $1,163,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MNST. Sustainable Insight Capital Management LLC bought a new position in Monster Beverage during the fourth quarter worth $1,214,000. Van ECK Associates Corp raised its holdings in shares of Monster Beverage by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock worth $8,101,000 after purchasing an additional 7,780 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Monster Beverage by 6.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock worth $13,124,000 after buying an additional 15,611 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Monster Beverage by 6.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock valued at $7,897,000 after buying an additional 9,496 shares during the period. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Monster Beverage during the 4th quarter valued at about $7,090,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MNST shares. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 target price on shares of Monster Beverage in a research note on Wednesday, January 22nd. Stifel Nicolaus upped their price objective on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company raised their target price on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. TD Cowen upped their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Argus lifted their price objective on shares of Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $55.53.

Monster Beverage Price Performance

NASDAQ:MNST opened at $52.56 on Tuesday. 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’s 50-day moving average price is $50.19 and its 200 day moving average price is $51.03. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The firm has a market cap of $51.12 billion, a P/E ratio of 33.69, a PEG ratio of 2.28 and a beta of 0.74.

Insider Activity

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Friday, December 13th. The shares were 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 in the company, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.80% of the company’s stock.

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.