Avestar Capital LLC Raises Position in Monster Beverage Co. (NASDAQ:MNST)

Avestar Capital LLC raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 28.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,929 shares of the company’s stock after purchasing an additional 1,543 shares during the period. Avestar Capital LLC’s holdings in Monster Beverage were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MNST. Janus Henderson Group PLC raised its position in Monster Beverage by 109.3% during the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock valued at $1,176,913,000 after purchasing an additional 11,779,162 shares during the period. Montrusco Bolton Investments Inc. raised its position in Monster Beverage by 250.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock valued at $178,801,000 after purchasing an additional 2,480,291 shares during the period. Assenagon Asset Management S.A. raised its position in Monster Beverage by 1,148.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after purchasing an additional 2,388,798 shares during the period. State Street Corp raised its position in Monster Beverage by 6.9% during the third quarter. State Street Corp now owns 33,742,390 shares of the company’s stock valued at $1,760,341,000 after purchasing an additional 2,168,379 shares during the period. Finally, Holocene Advisors LP purchased a new stake in shares of Monster Beverage in the third quarter worth approximately $73,600,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 0.5 %

Monster Beverage stock opened at $49.25 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The stock has a market capitalization of $47.90 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 1.96 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The business has a fifty day moving average price of $50.40 and a 200-day moving average price of $50.99.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. BNP Paribas reduced their price target on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Thursday, December 19th. Argus increased their price target on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. TD Cowen increased their price target on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, November 11th. 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 report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Monster Beverage presently has an average rating of “Hold” and a consensus price target of $55.53.

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 value of $526,500.00. Following the completion of the sale, the chief financial officer now owns 74,924 shares of the company’s stock, valued at $3,944,748.60. This trade represents a 11.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.