Bank of New York Mellon Corp Reduces Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Bank of New York Mellon Corp decreased its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,035,089 shares of the company’s stock after selling 67,733 shares during the quarter. Bank of New York Mellon Corp’s holdings in Monster Beverage were worth $264,644,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sustainable Insight Capital Management LLC acquired a new stake in shares of Monster Beverage in the 4th quarter worth $1,214,000. Van ECK Associates Corp increased its position in Monster Beverage by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock worth $8,101,000 after purchasing an additional 7,780 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Monster Beverage by 6.6% during the third 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 period. Daiwa Securities Group Inc. raised its stake in Monster Beverage by 6.7% during the third 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 period. Finally, Miracle Mile Advisors LLC acquired a new position in Monster Beverage in the 4th quarter valued at about $7,090,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Activity

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction dated 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 owns 74,924 shares in the company, valued at $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 is available through this link. Insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MNST shares. Argus raised their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 8th. BNP Paribas reduced their target price on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus increased their price target on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, TD Cowen boosted their price objective on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Monster Beverage has a consensus rating of “Hold” and an average target price of $55.53.

Monster Beverage Stock Performance

Shares of MNST stock opened at $51.64 on Thursday. The firm has a 50 day moving average of $50.19 and a two-hundred day moving average of $51.08. The stock has a market capitalization of $50.22 billion, a PE ratio of 33.10, a P/E/G ratio of 2.28 and a beta of 0.74. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week 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.