Channel Wealth LLC Purchases 891 Shares of Monster Beverage Co. (NASDAQ:MNST)

Channel Wealth LLC grew its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 7.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,683 shares of the company’s stock after buying an additional 891 shares during the quarter. Channel Wealth LLC’s holdings in Monster Beverage were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MNST. Gateway Investment Advisers LLC lifted its holdings in Monster Beverage by 2.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 448,712 shares of the company’s stock worth $23,584,000 after acquiring an additional 9,015 shares during the period. Outlook Wealth Advisors LLC raised its stake in shares of Monster Beverage by 19.7% during the 4th quarter. Outlook Wealth Advisors LLC now owns 8,036 shares of the company’s stock worth $422,000 after purchasing an additional 1,322 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Monster Beverage by 2.7% in the 4th quarter. Park Avenue Securities LLC now owns 18,470 shares of the company’s stock worth $971,000 after buying an additional 486 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Monster Beverage during the fourth quarter valued at about $936,000. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Monster Beverage by 11.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 14,196 shares of the company’s stock worth $746,000 after buying an additional 1,508 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Monster Beverage stock opened at $49.65 on Friday. The business has a 50-day simple moving average of $53.00 and a 200 day simple moving average of $51.26. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The stock has a market cap of $48.29 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.10 and a beta of 0.74. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

MNST has been the topic of a number of research analyst reports. TD Cowen boosted their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, November 11th. UBS Group reduced their price objective on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday. Argus raised their target price on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company upped their price target on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC started coverage on Monster Beverage in a research note on Friday, December 6th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average target price of $56.10.

Insider Transactions at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 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 document filed with the SEC, which is available through the SEC website. 7.80% of the stock is 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.