Invesco LLC Raises Stake in Monster Beverage Co. (NASDAQ:MNST)

Invesco LLC raised its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 9.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 40,970 shares of the company’s stock after purchasing an additional 3,565 shares during the period. Monster Beverage comprises 0.9% of Invesco LLC’s portfolio, making the stock its 29th largest holding. Invesco LLC’s holdings in Monster Beverage were worth $2,153,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Sustainable Insight Capital Management LLC bought a new position in Monster Beverage during the 4th quarter valued at approximately $1,214,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Monster Beverage by 6.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock valued at $13,124,000 after acquiring an additional 15,611 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Monster Beverage by 6.7% in the 3rd 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. Kovitz Investment Group Partners LLC bought a new position in Monster Beverage in the 3rd quarter worth about $630,000. Finally, Miracle Mile Advisors LLC purchased a new stake in Monster Beverage during the 4th quarter valued at about $7,090,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MNST. TD Cowen lifted their target price 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. BNP Paribas decreased their price objective on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Thursday, December 19th. Needham & Company LLC assumed coverage on Monster Beverage in a research note on Friday, December 6th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Argus lifted 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.42.

Insider Activity

In related news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $52.65, for a total value of $526,500.00. Following the transaction, the chief financial officer now directly owns 74,924 shares of the company’s stock, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.80% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ MNST traded up $0.14 on Wednesday, reaching $48.79. 554,878 shares of the stock were exchanged, compared to its average volume of 6,261,079. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The firm has a market capitalization of $47.45 billion, a PE ratio of 31.28, a PEG ratio of 2.08 and a beta of 0.74. The company’s 50-day simple moving average is $51.98 and its two-hundred day simple moving average is $51.22.

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.