Procyon Advisors LLC Raises Position in Monster Beverage Co. (NASDAQ:MNST)

Procyon Advisors LLC lifted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,548 shares of the company’s stock after acquiring an additional 4,263 shares during the period. Procyon Advisors LLC’s holdings in Monster Beverage were worth $5,495,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Monster Beverage in the 2nd quarter valued at about $30,000. Quarry LP lifted its position in shares of Monster Beverage by 152.0% during the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after purchasing an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Monster Beverage by 16,085.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company’s stock worth $59,000 after buying an additional 1,126 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Monster Beverage by 84.9% in the fourth quarter. Versant Capital Management Inc now owns 1,185 shares of the company’s stock valued at $62,000 after purchasing an additional 544 shares during the last quarter. Finally, DT Investment Partners LLC boosted its stake in shares of Monster Beverage by 38.6% during the 3rd quarter. DT Investment Partners LLC now owns 1,386 shares of the company’s stock valued at $72,000 after buying an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Activity

In other news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $52.65, for a total transaction of $526,500.00. Following the transaction, the chief financial officer now directly owns 74,924 shares in the company, valued at $3,944,748.60. The trade was a 11.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Stock Performance

Shares of MNST stock opened at $49.65 on Friday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a market capitalization of $48.29 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 2.10 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. The stock’s fifty day simple moving average is $53.00 and its 200-day simple moving average is $51.26.

Analyst Ratings Changes

MNST has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Bank of America raised their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Argus boosted their price objective on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus upped their price objective on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, BNP Paribas decreased 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.10.

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.