Assetmark Inc. Buys 17,703 Shares of Monster Beverage Co. (NASDAQ:MNST)

Assetmark Inc. increased its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 315,471 shares of the company's stock after purchasing an additional 17,703 shares during the quarter. Assetmark Inc.'s holdings in Monster Beverage were worth $16,458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ninety One UK Ltd raised its holdings in shares of Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company's stock valued at $373,519,000 after buying an additional 3,620,436 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Monster Beverage by 1,148.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company's stock valued at $135,480,000 after acquiring an additional 2,388,798 shares during the last quarter. AMF Tjanstepension AB bought a new stake in Monster Beverage during the 2nd quarter worth approximately $81,757,000. TD Asset Management Inc boosted its position in Monster Beverage by 41.1% during the 1st quarter. TD Asset Management Inc now owns 4,528,763 shares of the company's stock worth $268,465,000 after acquiring an additional 1,318,890 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of Monster Beverage by 34.1% in the 1st quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company's stock valued at $288,082,000 after buying an additional 1,234,718 shares during the last quarter. 72.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BMO Capital Markets cut their price target on Monster Beverage from $56.00 to $54.00 and set a "market perform" rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Monster Beverage from $61.00 to $59.00 and set a "buy" rating on the stock in a research report on Friday. Piper Sandler decreased their price target on Monster Beverage from $59.00 to $46.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Citigroup decreased their price target on Monster Beverage from $60.00 to $54.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their price target on Monster Beverage from $50.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Monster Beverage Trading Up 3.0 %

MNST stock traded up $1.60 during mid-day trading on Monday, reaching $55.74. The company's stock had a trading volume of 6,682,986 shares, compared to its average volume of 6,976,757. The company has a market cap of $54.60 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. The business's 50 day moving average price is $51.69 and its 200 day moving average price is $50.99. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22.

About Monster Beverage

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.