Zurcher Kantonalbank Zurich Cantonalbank Has $8.02 Million Stake in Monster Beverage Co. (NASDAQ:MNST)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 9.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,756 shares of the company's stock after purchasing an additional 13,793 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Monster Beverage were worth $8,021,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MNST. TD Cowen boosted their price objective on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Truist Financial decreased their price target on shares of Monster Beverage from $46.00 to $40.00 and set a "sell" rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on Monster Beverage from $50.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada decreased their target price on Monster Beverage from $64.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Finally, BMO Capital Markets dropped their price target on 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 research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of "Moderate Buy" and an average target price of $56.45.

Monster Beverage Price Performance

Monster Beverage stock traded down $0.15 during mid-day trading on Monday, hitting $54.98. 5,682,396 shares of the company were exchanged, compared to its average volume of 6,891,091. 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 business has a fifty day moving average of $53.11 and a 200 day moving average of $51.03. The company has a market capitalization of $53.47 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74.

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.