Kentucky Retirement Systems Sells 668 Shares of Monster Beverage Co. (NASDAQ:MNST)

Kentucky Retirement Systems trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,465 shares of the company’s stock after selling 668 shares during the quarter. Kentucky Retirement Systems’ holdings in Monster Beverage were worth $2,547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MNST. International Assets Investment Management LLC increased its position in Monster Beverage by 5,117.0% in the 3rd quarter. International Assets Investment Management LLC now owns 22,433 shares of the company’s stock valued at $1,170,000 after buying an additional 22,003 shares in the last quarter. Cromwell Holdings LLC increased its position in Monster Beverage by 27.4% in the 3rd quarter. Cromwell Holdings LLC now owns 2,222 shares of the company’s stock valued at $116,000 after buying an additional 478 shares in the last quarter. Allworth Financial LP increased its position in Monster Beverage by 18.0% in the 3rd quarter. Allworth Financial LP now owns 4,228 shares of the company’s stock valued at $221,000 after buying an additional 644 shares in the last quarter. Outlook Wealth Advisors LLC increased its position in Monster Beverage by 10.7% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,714 shares of the company’s stock valued at $350,000 after buying an additional 647 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Monster Beverage by 3.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 514,750 shares of the company’s stock valued at $27,004,000 after buying an additional 17,258 shares in the last quarter. 72.36% of the stock is owned by institutional investors.

Insider Transactions at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was 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 in the company, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Needham & Company LLC assumed coverage on Monster Beverage in a research report on Friday, December 6th. They issued a “hold” rating for the company. TD Cowen lifted their price target on Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Monster Beverage from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. UBS Group cut their price target on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, BNP Paribas cut 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Hold” and an average target price of $55.53.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $53.00 on Friday. 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 has a fifty day simple moving average of $50.18 and a two-hundred day simple moving average of $50.98. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The firm has a market cap of $51.54 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74.

Monster Beverage 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.