Atlanta Consulting Group Advisors LLC Purchases New Shares in Monster Beverage Co. (NASDAQ:MNST)

Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund acquired 11,286 shares of the company's stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Journey Advisory Group LLC boosted its holdings in Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company's stock valued at $248,000 after acquiring an additional 196 shares during the period. Crossmark Global Holdings Inc. raised its position in Monster Beverage by 0.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company's stock valued at $2,434,000 after purchasing an additional 211 shares during the last quarter. Crewe Advisors LLC raised its position in shares of Monster Beverage by 37.5% in the 2nd quarter. Crewe Advisors LLC now owns 850 shares of the company's stock worth $42,000 after acquiring an additional 232 shares in the last quarter. Ieq Capital LLC boosted its position in shares of Monster Beverage by 0.3% during the second quarter. Ieq Capital LLC now owns 68,735 shares of the company's stock valued at $3,433,000 after purchasing an additional 232 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Monster Beverage by 20.6% during the 3rd quarter. UMB Bank n.a. now owns 1,412 shares of the company's stock valued at $74,000 after buying an additional 241 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

Shares of MNST stock traded up $1.27 during mid-day trading on Monday, hitting $53.27. The company had a trading volume of 7,255,737 shares, compared to its average volume of 6,997,631. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The stock's 50 day moving average price is $52.40 and its 200-day moving average price is $51.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The company has a market capitalization of $51.81 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.48 and a beta of 0.74.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of recent research reports. Piper Sandler cut their target price on Monster Beverage from $59.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Roth Mkm cut their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, August 12th. Bank of America lifted their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on Monster Beverage from $61.00 to $59.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Monster Beverage from $50.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.45.

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.