Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 97.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,275 shares of the company's stock after selling 1,015,000 shares during the quarter. Public Sector Pension Investment Board's holdings in Monster Beverage were worth $1,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Stephens Consulting LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at $26,000. Kings Path Partners LLC purchased a new stake in Monster Beverage during the second quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Monster Beverage during the second quarter valued at about $30,000. Quarry LP increased its stake in Monster Beverage by 152.0% during the second quarter. Quarry LP now owns 824 shares of the company's stock worth $41,000 after acquiring an additional 497 shares during the last quarter. Finally, Crewe Advisors LLC lifted its stake 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 purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded down $0.83 during trading on Friday, hitting $52.27. 3,936,984 shares of the company traded hands, compared to its average volume of 5,801,366. The business's fifty day moving average is $53.25 and its 200-day moving average is $51.05. 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 market capitalization of $50.83 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.57 and a beta of 0.74. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MNST shares. TD Cowen increased their price target on Monster Beverage from $50.00 to $55.00 and gave the company a "hold" rating in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Bank of America lifted their target price on Monster Beverage from $56.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. reduced 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. Finally, Truist Financial dropped their price objective on Monster Beverage from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Monster Beverage has a consensus rating of "Moderate Buy" and an average target price of $56.45.

Monster Beverage 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.