Sigma Planning Corp Sells 3,655 Shares of Monster Beverage Co. (NASDAQ:MNST)

Sigma Planning Corp trimmed its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 37.6% during the third quarter, Holdings Channel reports. The firm owned 6,058 shares of the company’s stock after selling 3,655 shares during the period. Sigma Planning Corp’s holdings in Monster Beverage were worth $316,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in Monster Beverage in the 1st quarter valued at $26,000. Stephens Consulting LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $26,000. Kings Path Partners LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Monster Beverage during the 2nd quarter worth about $30,000. Finally, Crewe Advisors LLC bought a new position in Monster Beverage during the 1st quarter valued at about $37,000. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Down 7.1 %

Shares of Monster Beverage stock opened at $52.00 on Friday. The business has a fifty day simple moving average of $52.40 and a 200 day simple moving average of $51.08. The stock has a market cap of $50.57 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.74. 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 12 month low of $43.32 and a 12 month high of $61.22.

Analyst Ratings Changes

Several analysts have weighed in on MNST shares. Deutsche Bank Aktiengesellschaft decreased their price objective 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. JPMorgan Chase & Co. decreased their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Roth Mkm cut their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company increased their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler lowered their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and an average target price 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.