Elevated Capital Advisors LLC Takes $208,000 Position in Monster Beverage Co. (NASDAQ:MNST)

Elevated Capital Advisors LLC bought a new position in Monster Beverage Co. (NASDAQ:MNST) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,953 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Monster Beverage by 6.9% during the third quarter. State Street Corp now owns 33,742,390 shares of the company’s stock valued at $1,760,341,000 after buying an additional 2,168,379 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Monster Beverage by 4.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock valued at $1,416,048,000 after acquiring an additional 1,229,789 shares during the period. Janus Henderson Group PLC grew its position in Monster Beverage by 109.3% in the 3rd quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock valued at $1,176,913,000 after acquiring an additional 11,779,162 shares during the last quarter. Geode Capital Management LLC increased its stake in Monster Beverage by 3.1% in the third quarter. Geode Capital Management LLC now owns 15,728,086 shares of the company’s stock worth $817,490,000 after purchasing an additional 473,418 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Monster Beverage by 18.1% during the third quarter. Wellington Management Group LLP now owns 3,898,127 shares of the company’s stock worth $203,365,000 after purchasing an additional 596,078 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. TD Cowen upped their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Stifel Nicolaus upped their target price on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their price target on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 8th. Argus raised their price objective on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC began coverage on Monster Beverage in a report on Friday, December 6th. They issued a “hold” rating for the company. Two investment 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, Monster Beverage presently has an average rating of “Moderate Buy” and an average target price of $56.30.

Monster Beverage Price Performance

NASDAQ MNST opened at $49.99 on Tuesday. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The firm’s fifty day simple moving average is $53.18 and its two-hundred day simple moving average is $51.27. 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 firm has a market capitalization of $48.62 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.52 and a beta of 0.74.

Insider Buying and Selling

In other 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 transaction of $526,500.00. Following the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.80% of the stock is owned by company insiders.

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.