Franklin Resources Inc. Cuts Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Franklin Resources Inc. decreased its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,091,090 shares of the company's stock after selling 321,725 shares during the period. Franklin Resources Inc. owned 0.63% of Monster Beverage worth $314,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Journey Advisory Group LLC grew its position in Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company's stock worth $248,000 after purchasing an additional 196 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Monster Beverage by 0.4% during the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company's stock worth $2,434,000 after buying an additional 211 shares during the period. Accretive Wealth Partners LLC grew its holdings in shares of Monster Beverage by 1.3% during the third quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company's stock valued at $930,000 after buying an additional 225 shares during the last quarter. Crewe Advisors LLC increased 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 valued at $42,000 after acquiring an additional 232 shares during the period. Finally, Ieq Capital LLC raised its stake in Monster Beverage by 0.3% in the 2nd quarter. Ieq Capital LLC now owns 68,735 shares of the company's stock worth $3,433,000 after acquiring an additional 232 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded down $0.16 during midday trading on Friday, hitting $52.76. The stock had a trading volume of 4,695,371 shares, compared to its average volume of 6,802,524. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $53.41 and a 200-day simple moving average of $51.06. The company has a market capitalization of $51.31 billion, a PE ratio of 33.82, a P/E/G ratio of 2.49 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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. TD Cowen increased their price objective on Monster Beverage from $50.00 to $55.00 and gave the company a "hold" rating in a report on Monday, November 11th. Bank of America increased their price target 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 decreased their target price on shares of Monster Beverage from $61.00 to $59.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Argus increased their price target on Monster Beverage from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their target price on Monster Beverage from $50.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $56.45.

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.