State of Tennessee Treasury Department boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 604.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,068,925 shares of the company’s stock after purchasing an additional 917,095 shares during the period. State of Tennessee Treasury Department’s holdings in Monster Beverage were worth $67,652,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new stake in Monster Beverage during the fourth quarter valued at about $84,599,000. Jennison Associates LLC lifted its holdings in Monster Beverage by 8.9% during the fourth quarter. Jennison Associates LLC now owns 13,126,248 shares of the company’s stock valued at $830,760,000 after purchasing an additional 1,072,773 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Monster Beverage by 19.7% during the third quarter. Bank of New York Mellon Corp now owns 6,132,325 shares of the company’s stock valued at $338,810,000 after purchasing an additional 1,008,607 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in Monster Beverage by 163.6% during the third quarter. Alyeska Investment Group L.P. now owns 1,173,475 shares of the company’s stock valued at $64,834,000 after purchasing an additional 728,295 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in Monster Beverage by 239.0% during the third quarter. WINTON GROUP Ltd now owns 614,794 shares of the company’s stock valued at $33,967,000 after purchasing an additional 433,465 shares during the last quarter. Institutional investors own 65.26% of the company’s stock.
Several equities research analysts have commented on the stock. Citigroup upped their price objective on shares of Monster Beverage from $60.00 to $66.00 and gave the company a “buy” rating in a report on Friday, November 10th. Deutsche Bank assumed coverage on shares of Monster Beverage in a report on Wednesday, December 13th. They set a “hold” rating and a $66.00 price objective on the stock. Susquehanna Bancshares set a $51.00 price objective on shares of Monster Beverage and gave the company a “sell” rating in a report on Monday, November 20th. Credit Suisse Group dropped their price objective on shares of Monster Beverage from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. Finally, BidaskClub raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.41.
In related news, Chairman Rodney C. Sacks sold 898 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $64.51, for a total value of $57,929.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Hilton H. Schlosberg sold 13,983 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $64.53, for a total transaction of $902,322.99. Following the completion of the sale, the insider now directly owns 967,456 shares in the company, valued at $62,429,935.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,026 shares of company stock worth $17,179,867. Insiders own 9.40% of the company’s stock.
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Monster Beverage Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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