Donoghue Forlines LLC Takes Position in Monster Beverage Co. (NASDAQ:MNST)

Donoghue Forlines LLC purchased a new position in Monster Beverage Co. (NASDAQ:MNST) during the fourth quarter, HoldingsChannel reports. The firm purchased 41,007 shares of the company’s stock, valued at approximately $2,155,000. Monster Beverage makes up about 0.7% of Donoghue Forlines LLC’s investment portfolio, making the stock its 12th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in Monster Beverage by 7.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 359,384 shares of the company’s stock worth $18,889,000 after buying an additional 24,752 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Monster Beverage by 2.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 308,239 shares of the company’s stock valued at $16,201,000 after purchasing an additional 7,773 shares in the last quarter. Simon Quick Advisors LLC bought a new position in shares of Monster Beverage in the fourth quarter worth approximately $216,000. Atomi Financial Group Inc. increased its stake in Monster Beverage by 14.0% in the 4th quarter. Atomi Financial Group Inc. now owns 9,321 shares of the company’s stock worth $490,000 after buying an additional 1,142 shares in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Monster Beverage by 8.6% in the 4th quarter. Ballentine Partners LLC now owns 4,705 shares of the company’s stock worth $247,000 after purchasing an additional 373 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.80% of the company’s stock.

Monster Beverage Trading Down 1.6 %

Shares of NASDAQ:MNST opened at $48.44 on Thursday. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The business’s fifty day simple moving average is $52.39 and its 200-day simple moving average is $51.26. The company has a market capitalization of $47.11 billion, a PE ratio of 31.51, a P/E/G ratio of 2.08 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.

Analysts Set New Price Targets

MNST has been the topic of several recent analyst reports. 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. JPMorgan Chase & Co. reduced their target price on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company increased their target price on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. TD Cowen boosted their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Bank of America increased their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two 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 an average rating of “Hold” and an average price target of $55.42.

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.