Teacher Retirement System of Texas cut its position in Monster Beverage Co. (NASDAQ:MNST) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 195,559 shares of the company’s stock after selling 36,022 shares during the period. Teacher Retirement System of Texas’ holdings in Monster Beverage were worth $12,377,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in MNST. Jennison Associates LLC increased its holdings in shares of Monster Beverage by 8.9% in 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 period. Bank of New York Mellon Corp increased its holdings in shares of Monster Beverage by 19.7% in 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 period. Alyeska Investment Group L.P. increased its holdings in shares of Monster Beverage by 163.6% in 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 period. WINTON GROUP Ltd increased its holdings in shares of Monster Beverage by 239.0% in 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 period. Finally, Engadine Partners LLP acquired a new position in shares of Monster Beverage in the fourth quarter valued at about $24,266,000. 65.86% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on MNST shares. Cowen reissued a “buy” rating and issued a $58.00 price objective on shares of Monster Beverage in a report on Friday, October 27th. Deutsche Bank started coverage on Monster Beverage in a report on Wednesday, December 13th. They issued a “hold” rating and a $66.00 price objective on the stock. Credit Suisse Group reaffirmed an “outperform” rating and set a $77.00 target price (up from $69.00) on shares of Monster Beverage in a report on Wednesday, January 17th. BidaskClub lowered Monster Beverage from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. Finally, Zacks Investment Research raised Monster Beverage from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $64.41.
In other Monster Beverage news, Chairman Rodney C. Sacks sold 189,861 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $63.92, for a total transaction of $12,135,915.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Rodney C. Sacks sold 62,386 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $64.53, for a total value of $4,025,768.58. Following the transaction, the chairman now owns 949,806 shares in the company, valued at approximately $61,290,981.18. The disclosure for this sale can be found here. Insiders have sold 268,026 shares of company stock worth $17,179,867 in the last quarter. 9.40% of the stock is currently owned by company insiders.
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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