Bank of New York Mellon Corp Cuts Stake in Monster Beverage Co. (NASDAQ:MNST)

Bank of New York Mellon Corp lessened its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,035,089 shares of the company’s stock after selling 67,733 shares during the period. Bank of New York Mellon Corp owned approximately 0.52% of Monster Beverage worth $264,644,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MNST. Migdal Insurance & Financial Holdings Ltd. grew 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 during the last quarter. Spire Wealth Management acquired a new stake in shares of Monster Beverage during the fourth quarter worth $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Monster Beverage during the fourth quarter valued at $30,000. Geneos Wealth Management Inc. acquired a new position in shares of Monster Beverage in the 4th quarter valued at $33,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Monster Beverage by 16,085.7% in the third 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.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $51.64 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The business has a 50 day simple moving average of $50.19 and a two-hundred day simple moving average of $51.08. The stock has a market capitalization of $50.22 billion, a P/E ratio of 33.10, a PEG ratio of 2.28 and a beta of 0.74. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MNST shares. TD Cowen lifted their price objective on Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Stifel Nicolaus lifted their price target on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 8th. UBS Group dropped their price objective on shares of Monster Beverage from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Monster Beverage from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.53.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction 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 sale, the chief financial officer now owns 74,924 shares of the company’s stock, valued at $3,944,748.60. The trade was a 11.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Company 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.