Hilltop Holdings Inc. Takes Position in Monster Beverage Co. (NASDAQ:MNST)

Hilltop Holdings Inc. purchased a new position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,889 shares of the company's stock, valued at approximately $620,000.

Several other institutional investors and hedge funds have also made changes to their positions in MNST. Ninety One UK Ltd grew its position 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 purchasing an additional 3,620,436 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Monster Beverage by 1,148.0% during 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 buying an additional 2,388,798 shares during the last quarter. Holocene Advisors LP purchased a new position in Monster Beverage during the third quarter worth $73,600,000. Loomis Sayles & Co. L P increased its position in Monster Beverage by 4.7% during the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company's stock worth $1,416,048,000 after buying an additional 1,229,789 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Monster Beverage by 9,260.6% in the second quarter. Public Sector Pension Investment Board now owns 1,041,275 shares of the company's stock worth $52,012,000 after acquiring an additional 1,030,151 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Trading Down 1.6 %

Shares of Monster Beverage stock traded down $0.83 during trading hours on Friday, hitting $52.27. The company's stock had a trading volume of 3,937,205 shares, compared to its average volume of 6,863,085. The business has a fifty day moving average of $53.26 and a 200 day moving average of $51.07. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. 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 company has a market capitalization of $50.83 billion, a PE ratio of 33.51, a P/E/G ratio of 2.59 and a beta of 0.74.

Wall Street Analyst Weigh In

A number of research firms recently commented on MNST. Bank of America increased their price objective on Monster Beverage from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. BMO Capital Markets lowered their price target on shares of Monster Beverage from $56.00 to $54.00 and set a "market perform" rating for the company in a report on Thursday, August 8th. Piper Sandler reduced their price objective on shares of Monster Beverage from $59.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Truist Financial decreased their target price on shares of Monster Beverage from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their price target on Monster Beverage from $50.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus 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.