Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,465,696 shares of the company’s stock after buying an additional 4,968 shares during the quarter. Rhumbline Advisers’ holdings in Monster Beverage were worth $77,037,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Monster Beverage by 62.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock valued at $28,000 after acquiring an additional 203 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Monster Beverage by 1.5% in the fourth quarter. Bleakley Financial Group LLC now owns 13,578 shares of the company’s stock valued at $714,000 after purchasing an additional 203 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Monster Beverage by 3.1% in the fourth quarter. CWA Asset Management Group LLC now owns 6,991 shares of the company’s stock valued at $367,000 after purchasing an additional 213 shares in the last quarter. Accretive Wealth Partners LLC lifted its holdings in shares of Monster Beverage by 1.3% in the third quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company’s stock valued at $930,000 after purchasing an additional 225 shares in the last quarter. Finally, Sapient Capital LLC raised its holdings in shares of Monster Beverage by 0.5% during the fourth quarter. Sapient Capital LLC now owns 46,082 shares of the company’s stock worth $2,422,000 after acquiring an additional 228 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Down 0.5 %

Shares of MNST stock opened at $49.25 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The firm’s 50-day moving average is $50.34 and its 200-day moving average is $50.97. The stock has a market cap of $47.90 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 1.96 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MNST shares. Stifel Nicolaus raised their price target on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $59.00 price target on shares of Monster Beverage in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their price target on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Argus raised their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of Monster Beverage from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Two investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.53.

Insider Activity

In other news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $52.65, for a total value of $526,500.00. Following the sale, the chief financial officer now directly owns 74,924 shares of the company’s stock, valued at approximately $3,944,748.60. This represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.80% of the stock is 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.