Empower Advisory Group LLC Acquires 59,740 Shares of Monster Beverage Co. (NASDAQ:MNST)

Empower Advisory Group LLC grew its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,184,902 shares of the company's stock after acquiring an additional 59,740 shares during the period. Empower Advisory Group LLC owned 0.12% of Monster Beverage worth $61,816,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MNST. Dai ichi Life Insurance Company Ltd lifted its stake in Monster Beverage by 2.3% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company's stock valued at $1,192,000 after purchasing an additional 532 shares during the last quarter. Cetera Advisors LLC lifted its position in Monster Beverage by 128.1% during the first quarter. Cetera Advisors LLC now owns 20,527 shares of the company's stock worth $1,217,000 after acquiring an additional 11,528 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in Monster Beverage in the first quarter valued at approximately $1,063,000. Swedbank AB increased its holdings in Monster Beverage by 23.1% in the 2nd quarter. Swedbank AB now owns 121,731 shares of the company's stock worth $6,080,000 after purchasing an additional 22,823 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in Monster Beverage by 50.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 100,367 shares of the company's stock worth $5,013,000 after purchasing an additional 33,478 shares during the period. Institutional investors own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of recent research reports. Bank of America raised their target price on Monster Beverage from $56.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Wells Fargo & Company increased their price target on Monster Beverage from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Truist Financial decreased their price target on Monster Beverage from $46.00 to $40.00 and set a "sell" rating for the company in a research report on Friday, August 9th. Stifel Nicolaus increased their price target on Monster Beverage from $57.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, UBS Group increased their price target on Monster Beverage from $55.00 to $57.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Monster Beverage has an average rating of "Moderate Buy" and an average target price of $56.45.

Monster Beverage Stock Performance

Shares of NASDAQ MNST traded up $0.38 during mid-day trading on Wednesday, hitting $56.40. The company had a trading volume of 2,529,309 shares, compared to its average volume of 6,962,146. The company has a market capitalization of $54.85 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 2.67 and a beta of 0.74. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. 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's 50-day moving average price is $52.02 and its 200-day moving average price is $51.02.

Monster Beverage 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.