Park National Corp OH Cuts Position in Monster Beverage Co. (NASDAQ:MNST)

Park National Corp OH trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 74.8% during the 4th quarter, Holdings Channel reports. The fund owned 83,933 shares of the company’s stock after selling 249,186 shares during the period. Park National Corp OH’s holdings in Monster Beverage were worth $4,412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MNST. University of Texas Texas AM Investment Management Co. bought a new position in Monster Beverage during the second quarter valued at $30,000. Quarry LP grew its position in Monster Beverage by 152.0% in the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after acquiring an additional 497 shares in the last quarter. Hazlett Burt & Watson Inc. increased its stake in Monster Beverage by 141.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 854 shares of the company’s stock worth $43,000 after acquiring an additional 500 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in Monster Beverage by 16,085.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company’s stock worth $59,000 after acquiring an additional 1,126 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Monster Beverage by 84.9% during 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 period. 72.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Bank of America boosted their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their price objective on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen lifted their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Argus increased their price objective on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company boosted 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and an average target price of $56.30.

Monster Beverage Price Performance

NASDAQ MNST opened at $51.55 on Wednesday. The company has a market cap of $50.13 billion, a PE ratio of 33.05, a P/E/G ratio of 2.52 and a beta of 0.74. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The firm’s 50 day moving average price is $53.35 and its 200-day moving average price is $51.26.

Insider Buying and Selling at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was 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 $3,944,748.60. This represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 7.80% of the company’s stock.

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.