Hartford Investment Management Co. Sells 1,005 Shares of Monster Beverage Co. (NASDAQ:MNST)

Hartford Investment Management Co. trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,330 shares of the company’s stock after selling 1,005 shares during the period. Hartford Investment Management Co.’s holdings in Monster Beverage were worth $2,277,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MNST. Janus Henderson Group PLC increased its holdings in shares of Monster Beverage by 109.3% during the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock valued at $1,176,913,000 after acquiring an additional 11,779,162 shares in the last quarter. Montrusco Bolton Investments Inc. grew its position in Monster Beverage by 250.9% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock valued at $178,801,000 after purchasing an additional 2,480,291 shares during the period. Assenagon Asset Management S.A. increased its stake in Monster Beverage by 1,148.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after purchasing an additional 2,388,798 shares in the last quarter. State Street Corp raised its holdings in Monster Beverage by 6.9% during the third quarter. State Street Corp now owns 33,742,390 shares of the company’s stock worth $1,760,341,000 after buying an additional 2,168,379 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Monster Beverage in the third quarter valued at $73,600,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $52.65, for a total value of $526,500.00. Following the sale, the chief financial officer now directly owns 74,924 shares in the company, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.80% of the company’s stock.

Monster Beverage Trading Up 2.8 %

NASDAQ:MNST opened at $49.52 on Friday. The firm’s 50 day moving average is $50.47 and its 200 day moving average is $51.00. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The stock has a market capitalization of $48.16 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 1.96 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MNST. Needham & Company LLC started coverage on shares of Monster Beverage in a research report on Friday, December 6th. They set a “hold” rating for the company. JPMorgan Chase & Co. decreased their price objective on Monster Beverage from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday. BNP Paribas dropped their target price on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company upped their price target on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Argus upped their target price on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Monster Beverage presently has an average rating of “Hold” and an average target price of $55.53.

Monster Beverage Company Profile

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.