Arden Trust Co grew its position in Monster Beverage Co. (NASDAQ:MNST) by 14.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,841 shares of the company’s stock after purchasing an additional 1,105 shares during the quarter. Arden Trust Co’s holdings in Monster Beverage were worth $709,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Virtus ETF Advisers LLC bought a new position in Monster Beverage in the 2nd quarter worth $26,000. Nachman Norwood & Parrott Inc bought a new position in shares of Monster Beverage in the third quarter worth about $39,000. First Horizon Advisors Inc. lifted its position in shares of Monster Beverage by 120.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 557 shares of the company’s stock worth $39,000 after purchasing an additional 304 shares during the last quarter. Lountzis Asset Management LLC acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $46,000. Finally, Balentine LLC acquired a new stake in Monster Beverage in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 63.92% of the company’s stock.
Shares of MNST stock opened at $80.76 on Friday. The stock’s fifty day simple moving average is $81.12 and its 200 day simple moving average is $72.52. Monster Beverage Co. has a one year low of $50.06 and a one year high of $87.05. The firm has a market cap of $42.59 billion, a price-to-earnings ratio of 37.92, a P/E/G ratio of 3.06 and a beta of 1.04.
MNST has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Monster Beverage from $83.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. BidaskClub lowered shares of Monster Beverage from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 8th. SunTrust Banks upped their price objective on shares of Monster Beverage from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Jefferies Financial Group lifted their target price on Monster Beverage from $73.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their price target on Monster Beverage from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 27th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $79.07.
In other Monster Beverage news, insider Emelie Tirre sold 47,601 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $80.34, for a total value of $3,824,264.34. Following the transaction, the insider now owns 11,349 shares of the company’s stock, valued at $911,778.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas J. Kelly sold 10,249 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $83.53, for a total value of $856,098.97. Following the sale, the executive vice president now owns 2,868 shares in the company, valued at approximately $239,564.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,100 shares of company stock valued at $9,126,791. Company insiders own 10.60% of the company’s stock.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, non-carbonated energy teas, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to bottling and canning operations.
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