Fulton Bank N.A. lifted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 3.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 14,224 shares of the company’s stock after purchasing an additional 482 shares during the quarter. Fulton Bank N.A.’s holdings in Monster Beverage were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its stake in shares of Monster Beverage by 4.8% in the fourth quarter. Nuveen Asset Management LLC now owns 7,357,929 shares of the company’s stock valued at $680,461,000 after purchasing an additional 335,995 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Monster Beverage by 8.1% in the 4th quarter. Bank of New York Mellon Corp now owns 3,720,885 shares of the company’s stock valued at $344,107,000 after buying an additional 279,500 shares in the last quarter. Norges Bank acquired a new position in shares of Monster Beverage in the 4th quarter valued at $332,245,000. First Trust Advisors LP lifted its holdings in shares of Monster Beverage by 502.7% during the 4th quarter. First Trust Advisors LP now owns 2,127,766 shares of the company’s stock worth $196,776,000 after acquiring an additional 1,774,710 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Monster Beverage by 3.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 2,047,641 shares of the company’s stock valued at $189,366,000 after acquiring an additional 74,312 shares in the last quarter. Institutional investors and hedge funds own 63.59% of the company’s stock.
Shares of MNST stock traded up $0.76 during trading hours on Thursday, reaching $94.99. 2,423 shares of the company were exchanged, compared to its average volume of 2,143,200. Monster Beverage Co. has a fifty-two week low of $57.92 and a fifty-two week high of $95.11. The stock’s fifty day moving average is $89.18 and its two-hundred day moving average is $86.62. The company has a market cap of $50.17 billion, a price-to-earnings ratio of 42.26, a P/E/G ratio of 2.92 and a beta of 1.11.
MNST has been the subject of several recent research reports. Morgan Stanley raised their price target on shares of Monster Beverage from $101.00 to $106.00 and gave the stock an “overweight” rating in a research note on Monday, March 15th. Smith Barney Citigroup raised their target price on Monster Beverage from $89.00 to $99.00 in a research report on Friday, January 15th. Citigroup boosted their price target on Monster Beverage from $89.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, January 15th. Stifel Nicolaus increased their price objective on Monster Beverage from $91.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, January 8th. Finally, Argus boosted their target price on shares of Monster Beverage from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $94.00.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy teas and shakes, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience chains, drug stores, foodservice customers, value stores, e-commerce retailers, and the military; and concentrates and/or beverage bases to bottling and canning operations.
Further Reading: Asset Allocation and Your Retirement
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