Monster Beverage Co. (NASDAQ:MNST) Stock Position Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Monster Beverage Co. (NASDAQ:MNST) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,277,949 shares of the company’s stock after selling 85,986 shares during the period. Principal Financial Group Inc.’s holdings in Monster Beverage were worth $67,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock worth $28,000 after buying an additional 203 shares during the period. Spire Wealth Management bought a new stake in Monster Beverage during the 4th quarter valued at $29,000. Retirement Wealth Solutions LLC acquired a new position in Monster Beverage during the 4th quarter worth $30,000. Geneos Wealth Management Inc. bought a new position in shares of Monster Beverage in the fourth quarter worth $33,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Monster Beverage by 16,085.7% during 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. Institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MNST shares. JPMorgan Chase & Co. reduced their price target 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. Wells Fargo & Company upped 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. UBS Group lowered their target price on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BNP Paribas cut their price target on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Thursday, December 19th. Finally, Needham & Company LLC began coverage on shares of Monster Beverage in a research note on Friday, December 6th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.53.

Insider Buying and Selling at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the firm’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 directly owns 74,924 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Company insiders own 7.80% of the company’s stock.

Monster Beverage Stock Up 1.3 %

NASDAQ:MNST opened at $51.69 on Thursday. The business’s fifty day moving average price is $50.21 and its 200 day moving average price is $50.95. The firm has a market capitalization of $50.27 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 2.09 and a beta of 0.74. 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.

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.