Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 24,921 shares of the company’s stock after acquiring an additional 1,137 shares during the period. Empowered Funds LLC’s holdings in Monster Beverage were worth $1,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MNST. Bessemer Group Inc. grew its holdings in shares of Monster Beverage by 2.4% during the first quarter. Bessemer Group Inc. now owns 24,664 shares of the company’s stock valued at $1,462,000 after buying an additional 570 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Monster Beverage during the first quarter worth about $37,000. CreativeOne Wealth LLC raised its position in shares of Monster Beverage by 51.8% during the 1st quarter. CreativeOne Wealth LLC now owns 11,089 shares of the company’s stock worth $657,000 after purchasing an additional 3,784 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Monster Beverage by 20.2% in the 1st quarter. Toronto Dominion Bank now owns 442,033 shares of the company’s stock worth $26,204,000 after buying an additional 74,347 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Monster Beverage by 30.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,497,873 shares of the company’s stock worth $88,794,000 after buying an additional 352,265 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Shares of MNST opened at $54.00 on Friday. The stock has a 50 day moving average price of $52.68 and a 200 day moving average price of $51.07. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week 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 company has a market capitalization of $52.52 billion, a price-to-earnings ratio of 34.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74.

Analyst Ratings Changes

Several equities research analysts have issued reports on MNST shares. BMO Capital Markets lowered their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Argus increased their target price on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus raised 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. Piper Sandler cut their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America raised their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Two equities 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.45.

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.