Monster Beverage Co. (NASDAQ:MNST) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN decreased its stake in Monster Beverage Co. (NASDAQ:MNST) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,851 shares of the company’s stock after selling 248 shares during the period. OLD National Bancorp IN’s holdings in Monster Beverage were worth $413,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Sustainable Insight Capital Management LLC purchased a new position in shares of Monster Beverage during the fourth quarter worth about $1,214,000. Nomura Asset Management Co. Ltd. grew its stake 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 buying an additional 15,611 shares during the last quarter. Daiwa Securities Group Inc. increased its position in 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 period. Kovitz Investment Group Partners LLC purchased a new stake in Monster Beverage in the third quarter valued at approximately $630,000. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $7,090,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $52.65, for a total value of $526,500.00. Following the sale, the chief financial officer now owns 74,924 shares of the company’s stock, valued at approximately $3,944,748.60. This 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 accessible through the SEC website. 7.80% of the stock is currently owned by company insiders.

Monster Beverage Trading Down 1.3 %

Shares of MNST opened at $48.71 on Friday. The firm’s 50-day moving average is $51.69 and its two-hundred day moving average is $51.18. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. 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 firm has a market capitalization of $47.37 billion, a P/E ratio of 31.22, a PEG ratio of 2.08 and a beta of 0.74.

Analyst Ratings Changes

Several analysts recently commented on the stock. Bank of America upped their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Needham & Company LLC assumed coverage on Monster Beverage in a research report on Friday, December 6th. They issued a “hold” rating on the stock. UBS Group reduced their price objective on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $59.00 target price on shares of Monster Beverage in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Monster Beverage has a consensus rating of “Hold” and an average price target of $55.42.

Monster Beverage 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.