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

Handelsbanken Fonder AB grew its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 69.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its position in 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 purchasing an additional 203 shares during the last quarter. Spire Wealth Management bought a new position in shares of Monster Beverage during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in Monster Beverage in the fourth quarter worth $30,000. Geneos Wealth Management Inc. bought a new stake in Monster Beverage in the fourth quarter valued at $33,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in Monster Beverage by 16,085.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company’s stock valued at $59,000 after purchasing an additional 1,126 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MNST. TD Cowen raised their target price 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. BNP Paribas cut their price objective on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a research report on Thursday, December 19th. UBS Group decreased their target price on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Needham & Company LLC assumed coverage on Monster Beverage in a research note on Friday, December 6th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on Monster Beverage from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.53.

Insider Buying and Selling

In other Monster Beverage 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 transaction 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. This represents a 11.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Stock Performance

Shares of MNST opened at $51.21 on Friday. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The business’s fifty day simple moving average is $50.18 and its two-hundred day simple moving average is $50.96. 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 cap of $49.80 billion, a price-to-earnings ratio of 32.83, a P/E/G ratio of 2.18 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.