New York State Common Retirement Fund Sells 17,000 Shares of Monster Beverage Co. (NASDAQ:MNST)

New York State Common Retirement Fund cut its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,096,832 shares of the company’s stock after selling 17,000 shares during the period. New York State Common Retirement Fund owned 0.11% of Monster Beverage worth $57,649,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sustainable Insight Capital Management LLC acquired a new position in shares of Monster Beverage during the 4th quarter worth about $1,214,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Monster Beverage by 6.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock worth $13,124,000 after purchasing an additional 15,611 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Monster Beverage by 6.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after purchasing an additional 9,496 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Monster Beverage during the 4th quarter worth about $7,090,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of Monster Beverage during the 3rd quarter worth about $630,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $52.65, for a total transaction 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 approximately $3,944,748.60. This represents a 11.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.80% of the stock is currently owned by insiders.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $51.69 on Thursday. The company has a 50 day moving average of $50.21 and a 200-day moving average of $50.95. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. 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 company has a market cap of $50.27 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 2.09 and a beta of 0.74.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MNST shares. 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 research note on Monday, November 11th. Needham & Company LLC initiated coverage on shares of Monster Beverage in a research note 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 on the stock in a research note on Thursday, December 19th. Stifel Nicolaus upped their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company upped their price target on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Monster Beverage has an average rating of “Hold” and an average price target of $55.53.

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.