Pinnacle Financial Partners Inc Lowers Stake in Monster Beverage Co. (NASDAQ:MNST)

Pinnacle Financial Partners Inc reduced its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 9.8% during the 4th quarter, HoldingsChannel reports. The fund owned 4,797 shares of the company’s stock after selling 521 shares during the period. Pinnacle Financial Partners Inc’s holdings in Monster Beverage were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MNST. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Monster Beverage by 62.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock worth $28,000 after purchasing an additional 203 shares during the last quarter. Spire Wealth Management acquired a new position in shares of Monster Beverage during the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of Monster Beverage during the 4th quarter worth about $30,000. Geneos Wealth Management Inc. acquired a new position in shares of Monster Beverage during the 4th quarter worth about $33,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in shares of Monster Beverage by 16,085.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company’s stock worth $59,000 after purchasing an additional 1,126 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $53.00 on Monday. 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 stock has a market capitalization of $51.54 billion, a P/E ratio of 33.97, a PEG ratio of 2.28 and a beta of 0.74. The company has a 50 day moving average price of $50.18 and a 200 day moving average price of $50.98. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Needham & Company LLC assumed coverage on shares of Monster Beverage in a report on Friday, December 6th. They issued a “hold” rating for the company. UBS Group cut their price objective on shares of Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Wells Fargo & Company increased their price objective on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. 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. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Hold” and a consensus price target of $55.53.

Insider Buying and Selling

In related news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $52.65, for a total transaction of $526,500.00. Following the completion of the transaction, the chief financial officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

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.