Hennion & Walsh Asset Management Inc. Has $2.46 Million Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Hennion & Walsh Asset Management Inc. lessened its stake in Monster Beverage Co. (NASDAQ:MNST) by 5.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 46,838 shares of the company’s stock after selling 2,473 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Monster Beverage were worth $2,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Monster Beverage in the second quarter valued at $30,000. Quarry LP raised its holdings in shares of Monster Beverage by 152.0% in the 2nd quarter. Quarry LP now owns 824 shares of the company’s stock valued at $41,000 after purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its stake in Monster Beverage by 16,085.7% in 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 purchasing an additional 1,126 shares during the last quarter. Versant Capital Management Inc grew its holdings in Monster Beverage by 84.9% during the fourth quarter. Versant Capital Management Inc now owns 1,185 shares of the company’s stock worth $62,000 after purchasing an additional 544 shares during the period. Finally, DT Investment Partners LLC grew its holdings in Monster Beverage by 38.6% during the third quarter. DT Investment Partners LLC now owns 1,386 shares of the company’s stock worth $72,000 after purchasing an additional 386 shares during the period. 72.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group cut their price objective on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday. BNP Paribas cut their price target on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company raised their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC assumed coverage on shares of Monster Beverage in a research note on Friday, December 6th. They issued a “hold” rating on the stock. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.47.

Insider Activity

In related news, CFO Thomas J. Kelly sold 10,000 shares of the 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 sale, the chief financial officer now owns 74,924 shares in the company, valued at approximately $3,944,748.60. This trade represents a 11.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Stock Down 0.5 %

MNST stock opened at $49.42 on Friday. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The business has a 50-day simple moving average of $52.89 and a 200 day simple moving average of $51.25. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The company has a market cap of $48.06 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 2.10 and a beta of 0.74.

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.