Monster Beverage Co. (NASDAQ:MNST) Stake Trimmed by Perigon Wealth Management LLC

Perigon Wealth Management LLC cut its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 10.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,684 shares of the company’s stock after selling 1,867 shares during the period. Perigon Wealth Management LLC’s holdings in Monster Beverage were worth $828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MNST. Nilsine Partners LLC lifted its position in shares of Monster Beverage by 2.7% in the 4th quarter. Nilsine Partners LLC now owns 23,104 shares of the company’s stock valued at $1,214,000 after acquiring an additional 618 shares in the last quarter. Foundations Investment Advisors LLC purchased a new position in Monster Beverage during the 4th quarter worth approximately $209,000. United Asset Strategies Inc. raised its stake in Monster Beverage by 2.8% during the 4th quarter. United Asset Strategies Inc. now owns 148,827 shares of the company’s stock valued at $7,822,000 after purchasing an additional 4,088 shares during the period. KBC Group NV lifted its holdings in shares of Monster Beverage by 1.4% in the fourth quarter. KBC Group NV now owns 200,244 shares of the company’s stock valued at $10,524,000 after purchasing an additional 2,689 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Monster Beverage by 20.7% in the fourth quarter. Blue Trust Inc. now owns 8,691 shares of the company’s stock worth $453,000 after buying an additional 1,493 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Thomas J. Kelly sold 10,000 shares of the firm’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 of the company’s stock, valued at approximately $3,944,748.60. This trade represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Argus upped their price target on Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus increased their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. BNP Paribas cut their target price on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.42.

Monster Beverage Trading Up 0.5 %

NASDAQ:MNST opened at $49.36 on Friday. The company’s 50 day moving average is $51.89 and its 200-day moving average is $51.20. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The firm has a market cap of $48.00 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 2.08 and a beta of 0.74.

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.