Allspring Global Investments Holdings LLC Reduces Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Allspring Global Investments Holdings LLC cut its stake in Monster Beverage Co. (NASDAQ:MNST) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,421 shares of the company’s stock after selling 1,893 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Monster Beverage were worth $2,324,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Monster Beverage by 62.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock valued at $28,000 after buying an additional 203 shares in the last quarter. Spire Wealth Management purchased a new position in Monster Beverage in the fourth quarter valued at about $29,000. Retirement Wealth Solutions LLC purchased a new position in Monster Beverage in the fourth quarter valued at about $30,000. Geneos Wealth Management Inc. purchased a new position in Monster Beverage in the fourth quarter valued at about $33,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in Monster Beverage by 16,085.7% in 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 buying an additional 1,126 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $52.65, for a total transaction 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. This represents a 11.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

MNST has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Needham & Company LLC initiated coverage on shares of Monster Beverage in a report on Friday, December 6th. They issued a “hold” rating on the stock. BNP Paribas decreased their target price on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus increased their price objective on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, UBS Group dropped their target price on shares of Monster Beverage from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.53.

Monster Beverage Stock Up 3.5 %

MNST opened at $53.00 on Friday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The stock’s fifty day simple moving average is $50.18 and its 200 day simple moving average is $50.97. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The stock has a market cap of $51.54 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74.

Monster Beverage Company 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.