Victory Capital Management Inc. Sells 37,567 Shares of Monster Beverage Co. (NASDAQ:MNST)

Victory Capital Management Inc. decreased its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 714,193 shares of the company's stock after selling 37,567 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Monster Beverage worth $37,259,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Journey Advisory Group LLC raised its stake in Monster Beverage by 4.1% during the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company's stock worth $248,000 after acquiring an additional 196 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in Monster Beverage by 5.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company's stock valued at $256,000 after buying an additional 209 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings 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 valued at $2,434,000 after acquiring an additional 211 shares during the period. Crewe Advisors LLC grew its position in shares of Monster Beverage by 37.5% during the second quarter. Crewe Advisors LLC now owns 850 shares of the company's stock worth $42,000 after acquiring an additional 232 shares during the last quarter. Finally, Ieq Capital LLC increased its holdings in shares of 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 period. Institutional investors and hedge funds own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MNST. Deutsche Bank Aktiengesellschaft dropped their price target 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. Stifel Nicolaus boosted their price target on Monster Beverage from $57.00 to $59.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. UBS Group lifted their price objective on shares of Monster Beverage from $55.00 to $57.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Royal Bank of Canada decreased their target price on shares of Monster Beverage from $64.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Finally, BMO Capital Markets dropped their price target on shares of Monster Beverage from $56.00 to $54.00 and set a "market perform" rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.45.

Monster Beverage Price Performance

MNST stock traded down $3.96 during midday trading on Friday, reaching $52.00. 10,606,121 shares of the company's stock traded hands, compared to its average volume of 6,215,013. The company has a 50-day simple moving average of $52.40 and a two-hundred day simple moving average of $51.06. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a market cap of $50.57 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.48 and a beta of 0.74.

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.