abrdn plc Cuts Stake in Monster Beverage Co. (NASDAQ:MNST)

abrdn plc lessened its holdings in Monster Beverage Co. (NASDAQ:MNST) by 8.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 253,313 shares of the company’s stock after selling 22,368 shares during the quarter. abrdn plc’s holdings in Monster Beverage were worth $13,276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MNST. Spire Wealth Management purchased a new position in shares of Monster Beverage in the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new position in Monster Beverage in the 4th quarter worth approximately $30,000. Geneos Wealth Management Inc. bought a new stake in Monster Beverage in the fourth quarter valued at approximately $33,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Monster Beverage by 16,085.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company’s stock valued at $59,000 after purchasing an additional 1,126 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Monster Beverage by 84.9% in the fourth quarter. Versant Capital Management Inc now owns 1,185 shares of the company’s stock worth $62,000 after purchasing an additional 544 shares during the last quarter. 72.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

MNST has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 8th. UBS Group lowered their price objective on shares of Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Needham & Company LLC began coverage on Monster Beverage in a research note on Friday, December 6th. They issued a “hold” rating on the stock. Wells Fargo & Company upped their price target on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Bank of America lifted their price objective on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.42.

Insider Buying and Selling

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.80% of the stock is currently owned by company insiders.

Monster Beverage Price Performance

Shares of MNST opened at $46.57 on Friday. The firm’s 50-day simple moving average is $51.02 and its two-hundred day simple moving average is $51.07. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The stock has a market cap of $45.29 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

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.