Empirical Asset Management LLC Cuts Position in Monster Beverage Co. (NASDAQ:MNST)

Empirical Asset Management LLC trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 31.5% during the 4th quarter, Holdings Channel reports. The fund owned 7,603 shares of the company’s stock after selling 3,493 shares during the period. Empirical Asset Management LLC’s holdings in Monster Beverage were worth $400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its position in 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 purchasing an additional 15,611 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Monster Beverage by 6.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock valued at $7,897,000 after buying an additional 9,496 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Monster Beverage in the 3rd quarter valued at about $630,000. Miracle Mile Advisors LLC purchased a new position in Monster Beverage in the fourth quarter worth about $7,090,000. Finally, Diversified Trust Co bought a new stake in Monster Beverage during the fourth quarter worth approximately $733,000. 72.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 74,924 shares of the company’s stock, valued at approximately $3,944,748.60. This represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.80% of the company’s stock.

Monster Beverage Price Performance

NASDAQ MNST opened at $49.42 on Friday. The company has a market cap of $48.06 billion, a PE ratio of 31.68, a P/E/G ratio of 2.10 and a beta of 0.74. The firm’s 50 day moving average price is $52.80 and its 200-day moving average price is $51.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22.

Analyst Ratings Changes

MNST has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Bank of America lifted their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. TD Cowen lifted their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Argus upped their target price on Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Hold” and a consensus target price of $55.47.

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.