Monster Beverage Co. (NASDAQ:MNST) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 35.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,656 shares of the company's stock after selling 58,223 shares during the period. iA Global Asset Management Inc.'s holdings in Monster Beverage were worth $5,616,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in shares of Monster Beverage by 109.3% during the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company's stock worth $1,176,913,000 after acquiring an additional 11,779,162 shares during the period. Ninety One UK Ltd increased its position in shares of Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company's stock worth $373,519,000 after acquiring an additional 3,620,436 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Monster Beverage by 1,148.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company's stock worth $135,480,000 after acquiring an additional 2,388,798 shares during the period. State Street Corp increased its position in shares of Monster Beverage by 6.9% during the third quarter. State Street Corp now owns 33,742,390 shares of the company's stock worth $1,760,341,000 after acquiring an additional 2,168,379 shares during the period. Finally, Holocene Advisors LP purchased a new position in shares of Monster Beverage during the third quarter worth approximately $73,600,000. Institutional investors own 72.36% of the company's stock.

Monster Beverage Trading Down 1.6 %

Shares of Monster Beverage stock traded down $0.83 during mid-day trading on Friday, hitting $52.27. The stock had a trading volume of 3,936,984 shares, compared to its average volume of 5,801,366. The firm has a 50-day moving average of $53.25 and a two-hundred day moving average of $51.03. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month 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 firm has a market cap of $50.83 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MNST shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Needham & Company LLC began coverage on shares of Monster Beverage in a research note on Friday. They issued a "hold" rating for the company. UBS Group boosted their price objective on shares of Monster Beverage from $55.00 to $57.00 and gave the company a "neutral" rating in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Finally, Argus boosted their target price on shares of Monster Beverage from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.