Fernwood Investment Management LLC boosted its holdings in Monster Beverage Co. (NASDAQ:MNST) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,310 shares of the company’s stock after acquiring an additional 2,565 shares during the period. Fernwood Investment Management LLC’s holdings in Monster Beverage were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Liberty Capital Management Inc. boosted its stake in shares of Monster Beverage by 2,028.0% during the 3rd quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock worth $120,000 after purchasing an additional 2,028 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Monster Beverage by 397.6% during the 3rd quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after purchasing an additional 2,143 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Monster Beverage during the 3rd quarter worth about $169,000. Penserra Capital Management LLC acquired a new stake in shares of Monster Beverage during the 3rd quarter worth about $182,000. Finally, WoodTrust Financial Corp acquired a new stake in shares of Monster Beverage during the 4th quarter worth about $228,000. 65.86% of the stock is currently owned by hedge funds and other institutional investors.
MNST has been the topic of several analyst reports. BMO Capital Markets reaffirmed a “buy” rating and set a $58.00 price target on shares of Monster Beverage in a research note on Thursday, November 2nd. Susquehanna Bancshares cut shares of Monster Beverage from a “neutral” rating to a “negative” rating and set a $51.00 price target on the stock. in a research note on Monday, November 20th. Jefferies Group reiterated a “buy” rating and set a $64.00 price objective on shares of Monster Beverage in a report on Thursday, November 9th. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price objective (up from $61.00) on shares of Monster Beverage in a report on Tuesday, January 16th. Finally, Cowen reiterated an “outperform” rating and set a $67.00 price objective (up from $58.00) on shares of Monster Beverage in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Monster Beverage currently has an average rating of “Buy” and a consensus target price of $64.41.
In other news, Chairman Rodney C. Sacks sold 189,861 shares of Monster Beverage stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $63.92, for a total transaction of $12,135,915.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Rodney C. Sacks sold 62,386 shares of Monster Beverage stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $64.53, for a total transaction of $4,025,768.58. Following the sale, the chairman now owns 949,806 shares in the company, valued at approximately $61,290,981.18. The disclosure for this sale can be found here. Insiders sold 268,026 shares of company stock worth $17,179,867 in the last 90 days. 9.40% of the stock is currently owned by insiders.
Monster Beverage Co. (NASDAQ:MNST) traded up $1.19 during midday trading on Tuesday, reaching $64.08. 2,051,500 shares of the company traded hands, compared to its average volume of 2,428,772. Monster Beverage Co. has a 52-week low of $41.02 and a 52-week high of $70.21. The stock has a market capitalization of $35,467.65, a price-to-earnings ratio of 46.00, a price-to-earnings-growth ratio of 1.84 and a beta of 1.09.
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Monster Beverage Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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