Elk River Wealth Management LLC Boosts Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Elk River Wealth Management LLC raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 218.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,565 shares of the company’s stock after acquiring an additional 58,049 shares during the period. Elk River Wealth Management LLC’s holdings in Monster Beverage were worth $4,445,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake 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 acquiring an additional 203 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Monster Beverage during the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in shares of Monster Beverage during the 4th quarter worth approximately $30,000. Geneos Wealth Management Inc. purchased a new position in shares of Monster Beverage during the 4th quarter worth approximately $33,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in shares of 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 worth $59,000 after buying an additional 1,126 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $52.65, for a total transaction of $526,500.00. Following the sale, the chief financial officer now owns 74,924 shares in the company, valued at $3,944,748.60. This trade 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 is available through this link. Insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of analyst reports. Argus increased their target price on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. cut their target price on Monster Beverage from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC initiated coverage on Monster Beverage in a research note on Friday, December 6th. They set a “hold” rating for the company. Wells Fargo & Company increased their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Monster Beverage in a research note on Wednesday, January 22nd. Two investment 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. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Hold” and an average target price of $55.53.

Monster Beverage Price Performance

MNST stock opened at $51.69 on Thursday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The stock’s fifty day simple moving average is $50.21 and its 200-day simple moving average is $50.95. 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 stock has a market capitalization of $50.27 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 2.09 and a beta of 0.74.

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.