Monster Beverage Co. (NASDAQ:MNST) Stock Position Lessened by Sather Financial Group Inc

Sather Financial Group Inc cut its stake in Monster Beverage Co. (NASDAQ:MNST) by 2.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,031,646 shares of the company’s stock after selling 24,707 shares during the quarter. Monster Beverage makes up about 3.4% of Sather Financial Group Inc’s portfolio, making the stock its 10th largest position. Sather Financial Group Inc’s holdings in Monster Beverage were worth $54,223,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MNST. Sustainable Insight Capital Management LLC purchased a new position in Monster Beverage during the fourth quarter worth about $1,214,000. Nomura Asset Management Co. Ltd. increased its position in shares of Monster Beverage by 6.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock worth $13,124,000 after purchasing an additional 15,611 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Monster Beverage by 6.7% in the third quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after purchasing an additional 9,496 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in Monster Beverage in the fourth quarter valued at approximately $7,090,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in Monster Beverage during the third quarter valued at approximately $630,000. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. Argus raised 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. Wells Fargo & Company upped 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. TD Cowen raised their price objective on Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Needham & Company LLC started coverage on Monster Beverage in a research note 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 assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.42.

Monster Beverage Trading Up 0.5 %

Shares of MNST opened at $48.06 on Wednesday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The firm has a market capitalization of $46.74 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 1.96 and a beta of 0.74. The firm’s 50-day moving average price is $50.70 and its 200-day moving average price is $51.04. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13.

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 shares were 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 $3,944,748.60. This represents a 11.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.80% of the company’s stock.

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.