Principal Financial Group Inc. Cuts Holdings in Monster Beverage Co. (NASDAQ:MNST)

Principal Financial Group Inc. lessened its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,277,949 shares of the company’s stock after selling 85,986 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Monster Beverage worth $67,169,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MNST. Migdal Insurance & Financial Holdings Ltd. increased its position 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 purchasing an additional 203 shares in the last quarter. Spire Wealth Management purchased a new stake in Monster Beverage during the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in shares of Monster Beverage in the 4th quarter valued at $30,000. Geneos Wealth Management Inc. acquired a new position in shares of Monster Beverage during the 4th quarter valued at $33,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Monster Beverage by 16,085.7% during 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 acquiring an additional 1,126 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Argus boosted their price objective on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on shares of Monster Beverage from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. UBS Group lowered their price target on shares of Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen boosted their price objective on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, BNP Paribas lowered their target price on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.53.

Monster Beverage Stock Up 1.3 %

Shares of NASDAQ:MNST opened at $51.69 on Thursday. The company’s fifty day moving average is $50.21 and its two-hundred day moving average is $50.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The stock has a market capitalization of $50.27 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 2.09 and a beta of 0.74.

Insider Activity at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $52.65, for a total transaction of $526,500.00. Following the sale, the chief financial officer now directly owns 74,924 shares in the company, valued at approximately $3,944,748.60. This represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.80% of the company’s stock.

Monster Beverage Profile

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.