Principal Financial Group Inc. Has $71.16 Million Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Principal Financial Group Inc. increased its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 11.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,363,935 shares of the company’s stock after buying an additional 141,495 shares during the period. Principal Financial Group Inc. owned 0.14% of Monster Beverage worth $71,156,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MNST. Journey Advisory Group LLC increased its position in Monster Beverage by 4.1% in the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after purchasing an additional 196 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Monster Beverage by 0.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock worth $2,434,000 after buying an additional 211 shares during the period. Accretive Wealth Partners LLC raised its stake in shares of Monster Beverage by 1.3% during the third quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company’s stock worth $930,000 after buying an additional 225 shares during the last quarter. Crewe Advisors LLC lifted its holdings in Monster Beverage by 37.5% in the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after buying an additional 232 shares during the period. Finally, Ieq Capital LLC boosted its stake in Monster Beverage by 0.3% in the second quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock valued at $3,433,000 after acquiring an additional 232 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 74,924 shares in the company, valued at $3,944,748.60. This trade 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 available through this link. 7.80% of the stock is owned by company insiders.

Monster Beverage Stock Up 1.6 %

Shares of MNST stock opened at $51.72 on Friday. The firm’s fifty day moving average price is $53.57 and its two-hundred day moving average price is $51.05. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The firm has a market capitalization of $50.30 billion, a P/E ratio of 33.15, a PEG ratio of 2.49 and a beta of 0.74.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BNP Paribas dropped their price objective on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Thursday. TD Cowen increased their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 8th. 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 report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.30.

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.