Gateway Investment Advisers LLC Has $23.58 Million Stake in Monster Beverage Co. (NASDAQ:MNST)

Gateway Investment Advisers LLC lifted its stake in Monster Beverage Co. (NASDAQ:MNST) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 448,712 shares of the company’s stock after purchasing an additional 9,015 shares during the period. Gateway Investment Advisers LLC’s holdings in Monster Beverage were worth $23,584,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MNST. Nomura Asset Management Co. Ltd. raised its holdings in Monster Beverage by 6.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock worth $13,124,000 after purchasing an additional 15,611 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of 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 buying an additional 9,496 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Monster Beverage in the third quarter valued at approximately $630,000. Diversified Trust Co bought a new position in Monster Beverage in the fourth quarter valued at approximately $733,000. Finally, Wellington Management Group LLP grew its holdings in Monster Beverage by 18.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,898,127 shares of the company’s stock worth $203,365,000 after acquiring an additional 596,078 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.8 %

NASDAQ:MNST opened at $49.65 on Friday. The company has a market cap of $48.29 billion, a PE ratio of 31.83, a PEG ratio of 2.10 and a beta of 0.74. The stock has a 50-day simple moving average of $53.00 and a 200 day simple moving average of $51.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MNST. UBS Group cut their price target on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday. Bank of America increased their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. BNP Paribas decreased their target price on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Thursday, December 19th. Needham & Company LLC began coverage on shares of Monster Beverage in a research report on Friday, December 6th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average target price of $56.10.

Insider Transactions at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the business’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 sale, the chief financial officer now directly owns 74,924 shares of the company’s stock, valued at $3,944,748.60. The trade was a 11.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company 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.