Mutual of America Capital Management LLC trimmed its stake in shares of Monster Beverage Co. (NASDAQ:MNST – Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,287 shares of the company’s stock after selling 5,796 shares during the period. Mutual of America Capital Management LLC’s holdings in Monster Beverage were worth $5,522,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Freedom Wealth Alliance LLC purchased a new stake in shares of Monster Beverage during the fourth quarter worth $25,000. Peoples Bank KS acquired a new position in Monster Beverage in the third quarter worth approximately $26,000. Resurgent Financial Advisors LLC bought a new position in Monster Beverage during the fourth quarter valued at approximately $26,000. Ancora Advisors LLC acquired a new stake in Monster Beverage in the first quarter valued at approximately $27,000. Finally, Quarry LP raised its holdings in shares of Monster Beverage by 276.1% during the 1st quarter. Quarry LP now owns 504 shares of the company’s stock valued at $27,000 after purchasing an additional 370 shares in the last quarter. Institutional investors and hedge funds own 64.60% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. UBS Group upped their target price on Monster Beverage from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Monster Beverage from $62.00 to $61.00 and set a “buy” rating for the company in a research report on Monday, October 23rd. Citigroup upped their target price on Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Bank of America decreased their price target on shares of Monster Beverage from $63.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Finally, Roth Mkm reduced their price objective on shares of Monster Beverage from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 20th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus price target of $61.73.
Monster Beverage Stock Performance
Shares of MNST stock opened at $55.66 on Monday. The stock’s fifty day moving average is $56.36 and its 200-day moving average is $55.29. Monster Beverage Co. has a 52 week low of $47.13 and a 52 week high of $60.47. The stock has a market capitalization of $57.91 billion, a PE ratio of 37.48, a PEG ratio of 1.47 and a beta of 0.72.
Monster Beverage announced that its board has initiated a stock repurchase program on Wednesday, November 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Insider Activity at Monster Beverage
In other Monster Beverage news, insider Guy Carling sold 34,553 shares of Monster Beverage stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $55.55, for a total transaction of $1,919,419.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark Vidergauz sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $54.90, for a total value of $164,700.00. Following the completion of the transaction, the director now directly owns 81,270 shares in the company, valued at approximately $4,461,723. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Guy Carling sold 34,553 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $55.55, for a total transaction of $1,919,419.15. The disclosure for this sale can be found here. Insiders have sold a total of 69,553 shares of company stock worth $3,850,599 over the last 90 days. Insiders own 9.40% of the company’s stock.
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: Finished Product, Concentrate, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas and juice drinks, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.
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