Royal London Asset Management Ltd. boosted its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 6.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 498,047 shares of the company's stock after purchasing an additional 28,145 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.05% of Monster Beverage worth $25,983,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Journey Advisory Group LLC boosted its position in shares of Monster Beverage by 4.1% in 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 in the last quarter. Crossmark Global Holdings Inc. grew 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 worth $2,434,000 after purchasing an additional 211 shares during the last quarter. Accretive Wealth Partners LLC grew its position in Monster Beverage by 1.3% during the 3rd quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company's stock worth $930,000 after purchasing an additional 225 shares during the last quarter. Crewe Advisors LLC increased its stake in Monster Beverage by 37.5% during the 2nd quarter. Crewe Advisors LLC now owns 850 shares of the company's stock valued at $42,000 after purchasing an additional 232 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Monster Beverage by 0.3% in the second quarter. Ieq Capital LLC now owns 68,735 shares of the company's stock worth $3,433,000 after buying an additional 232 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.
Monster Beverage Price Performance
MNST traded down $0.83 during trading on Friday, hitting $52.27. The company's stock had a trading volume of 3,936,984 shares, compared to its average volume of 5,801,366. The business's fifty day simple moving average is $53.26 and its 200 day simple moving average is $51.07. 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 firm has a market capitalization of $50.83 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 2.57 and a beta of 0.74. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price 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. 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 report on Tuesday, October 15th. Roth Mkm decreased their target price on Monster Beverage from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, August 12th. Argus increased their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Monster Beverage from $57.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $56.45.
Read Our Latest Stock Report on Monster Beverage
About Monster Beverage
(
Free Report)
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.
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