Fortune Financial Advisors LLC Acquires 513 Shares of Monster Beverage Co. (NASDAQ:MNST)

Fortune Financial Advisors LLC grew its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.1% in the fourth quarter, HoldingsChannel reports. The fund owned 25,197 shares of the company’s stock after purchasing an additional 513 shares during the quarter. Monster Beverage makes up about 1.2% of Fortune Financial Advisors LLC’s portfolio, making the stock its 27th largest holding. Fortune Financial Advisors LLC’s holdings in Monster Beverage were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings 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 valued at $1,176,913,000 after purchasing an additional 11,779,162 shares in the last quarter. Montrusco Bolton Investments Inc. raised its position in shares of Monster Beverage by 250.9% during 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. raised its position in shares of 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 during the period. State Street Corp lifted its stake in shares of Monster Beverage by 6.9% during the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company’s stock valued at $1,760,341,000 after buying an additional 2,168,379 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in Monster Beverage in the 3rd quarter worth $73,600,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MNST shares. Deutsche Bank Aktiengesellschaft decreased their price target on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their target price on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. BNP Paribas dropped their price target on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.42.

Monster Beverage Trading Up 0.5 %

MNST stock opened at $49.36 on Friday. The firm’s fifty day simple moving average is $51.89 and its two-hundred day simple moving average is $51.20. The stock has a market capitalization of $48.00 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2.08 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. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22.

Insider Activity at Monster Beverage

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

About Monster Beverage

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.