Kentucky Retirement Systems Has $2.55 Million Position in Monster Beverage Co. (NASDAQ:MNST)

Kentucky Retirement Systems lowered its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,465 shares of the company’s stock after selling 668 shares during the quarter. Kentucky Retirement Systems’ holdings in Monster Beverage were worth $2,547,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Monster Beverage by 6.9% in the 3rd 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 in the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Monster Beverage by 4.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock valued at $1,416,048,000 after purchasing an additional 1,229,789 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Monster Beverage by 109.3% in the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Monster Beverage by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 15,728,086 shares of the company’s stock valued at $817,490,000 after purchasing an additional 473,418 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Monster Beverage by 18.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,898,127 shares of the company’s stock valued at $203,365,000 after purchasing an additional 596,078 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Stock Up 3.5 %

Shares of NASDAQ:MNST opened at $53.00 on Friday. The business has a fifty day simple moving average of $50.18 and a 200 day simple moving average of $50.98. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a market cap of $51.54 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.28 and a beta of 0.74.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a report on Wednesday, January 22nd. Wells Fargo & Company raised their price objective on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on Monster Beverage from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, BNP Paribas cut their price objective on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.53.

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.