First Citizens Bank & Trust Co. Grows Position in Monster Beverage Co. (NASDAQ:MNST)

First Citizens Bank & Trust Co. increased its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 7.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,862 shares of the company’s stock after buying an additional 858 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Monster Beverage were worth $676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sustainable Insight Capital Management LLC acquired a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $1,214,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Monster Beverage by 6.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock valued at $13,124,000 after buying an additional 15,611 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Monster Beverage by 6.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock valued at $7,897,000 after buying an additional 9,496 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of Monster Beverage in the 3rd quarter valued at approximately $630,000. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $7,090,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $52.65, for a total value of $526,500.00. Following the completion of the sale, the chief financial officer now owns 74,924 shares of the company’s stock, valued at $3,944,748.60. This represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.80% of the stock is owned by company insiders.

Monster Beverage Price Performance

MNST stock opened at $49.34 on Tuesday. The stock has a 50-day moving average price of $52.16 and a two-hundred day moving average price of $51.24. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. 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 company has a market cap of $47.98 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.08 and a beta of 0.74.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MNST shares. Needham & Company LLC started coverage on Monster Beverage in a report on Friday, December 6th. They set a “hold” rating for the company. BNP Paribas reduced their price objective on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. TD Cowen lifted their price objective on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lifted their price objective on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Monster Beverage has a consensus rating of “Hold” and a consensus price target of $55.42.

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.