Jag Capital Management LLC cut its stake in Monster Beverage Co. (NASDAQ:MNST) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 262,025 shares of the company’s stock after selling 12,761 shares during the quarter. Monster Beverage accounts for about 3.1% of Jag Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Jag Capital Management LLC’s holdings in Monster Beverage were worth $16,584,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Monster Beverage by 2.8% during the second quarter. Vanguard Group Inc. now owns 28,432,909 shares of the company’s stock valued at $1,412,547,000 after purchasing an additional 771,913 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Monster Beverage by 0.6% in the third quarter. Jennison Associates LLC now owns 12,053,475 shares of the company’s stock worth $665,955,000 after buying an additional 68,041 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Monster Beverage by 19.7% in the third quarter. Bank of New York Mellon Corp now owns 6,132,325 shares of the company’s stock worth $338,810,000 after buying an additional 1,008,607 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Monster Beverage by 1.5% in the third quarter. American Century Companies Inc. now owns 5,044,874 shares of the company’s stock worth $278,729,000 after buying an additional 75,928 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Monster Beverage by 5.1% in the second quarter. Voya Investment Management LLC now owns 4,905,985 shares of the company’s stock worth $243,730,000 after buying an additional 239,191 shares in the last quarter. Institutional investors own 65.86% of the company’s stock.
Several research firms have recently commented on MNST. BidaskClub raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Susquehanna Bancshares restated a “sell” rating and issued a $56.00 price target on shares of Monster Beverage in a research report on Thursday, January 18th. BMO Capital Markets boosted their price target on shares of Monster Beverage to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Cowen reiterated a “buy” rating and set a $77.00 price objective on shares of Monster Beverage in a research report on Monday, January 22nd. Finally, Zacks Investment Research upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $64.41.
In related news, Chairman Rodney C. Sacks sold 189,861 shares of the stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $63.92, for a total value of $12,135,915.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rodney C. Sacks sold 697 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $44,963.47. Following the completion of the transaction, the chief executive officer now owns 963,789 shares in the company, valued at approximately $62,174,028.39. The disclosure for this sale can be found here. Insiders sold a total of 268,026 shares of company stock valued at $17,179,867 over the last ninety days. 9.40% of the stock is currently owned by insiders.
Shares of Monster Beverage Co. (NASDAQ MNST) opened at $63.90 on Thursday. The company has a market cap of $35,750.00, a PE ratio of 46.64, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09. Monster Beverage Co. has a 1 year low of $41.02 and a 1 year high of $70.21.
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About Monster Beverage
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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