Pittenger & Anderson Inc. Reduces Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Pittenger & Anderson Inc. lowered its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 70.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 760 shares of the company’s stock after selling 1,800 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Monster Beverage were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. 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 worth $28,000 after acquiring an additional 203 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Monster Beverage during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Monster Beverage during the fourth quarter worth about $30,000. Geneos Wealth Management Inc. purchased a new stake in shares of Monster Beverage in the 4th quarter valued at about $33,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Monster Beverage by 16,085.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company’s stock valued at $59,000 after purchasing an additional 1,126 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the topic of several research analyst reports. TD Cowen lifted their price target on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC assumed coverage on shares of Monster Beverage in a report on Friday, December 6th. They issued a “hold” rating on the stock. BNP Paribas decreased their price target on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 price objective on shares of Monster Beverage in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage has a consensus rating of “Hold” and a consensus price target of $55.53.

Monster Beverage Stock Down 0.5 %

Shares of NASDAQ:MNST opened at $49.25 on Tuesday. 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 cap of $47.90 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 1.96 and a beta of 0.74. The stock’s 50-day moving average price is $50.34 and its two-hundred day moving average price is $50.97. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

Insider Buying and Selling

In related news, CFO Thomas J. Kelly sold 10,000 shares of the 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 transaction, the chief financial officer now directly owns 74,924 shares of the company’s stock, valued at approximately $3,944,748.60. This trade represents a 11.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.