Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 446,178 shares of the company’s stock after selling 13,317 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Monster Beverage were worth $23,451,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MNST. Janus Henderson Group PLC raised its position in Monster Beverage by 109.3% during the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock worth $1,176,913,000 after acquiring an additional 11,779,162 shares during the period. Montrusco Bolton Investments Inc. raised its position in Monster Beverage by 250.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock worth $178,801,000 after acquiring an additional 2,480,291 shares during the period. Assenagon Asset Management S.A. raised its position in Monster Beverage by 1,148.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after acquiring an additional 2,388,798 shares during the period. State Street Corp raised its position 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 acquiring an additional 2,168,379 shares during the period. Finally, Holocene Advisors LP acquired a new position in Monster Beverage during the third quarter worth $73,600,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Trading Down 0.5 %

Shares of MNST stock opened at $49.25 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The firm has a market cap of $47.90 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 1.96 and a beta of 0.74. The company has a 50-day moving average of $50.34 and a two-hundred day moving average of $50.98. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MNST. JPMorgan Chase & Co. reduced their price objective on shares of Monster Beverage from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday. BNP Paribas reduced their target price on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Thursday, December 19th. UBS Group reduced their target price on shares of Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $59.00 target price on shares of Monster Beverage in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two equities research 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.53.

Insiders Place Their Bets

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $52.65, for a total transaction of $526,500.00. Following the completion of the transaction, the chief financial officer now owns 74,924 shares of the company’s stock, valued at $3,944,748.60. This trade represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.80% of the stock is currently owned by insiders.

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.